Update: VC firm suspends exec, following insider trading indictment by Dan Primack @FortuneMagazine September 29, 2014, 12:41 PM EDT E-mail Tweet Facebook Google Plus Linkedin Share icons On Friday we discussed the insider trading indictment for Jim Mazzo, a venture partner with Versant Ventures and chairman and CEO of biotech startup AcuFocus. Among our questions was why Versant hired Mazzo in the first place, given that he already was subject of a civil complaint for insider trading from the SEC. Following our piece, Versant sent over the following statement: “Upon learning of the indictment of Mr. Mazzo, Versant and Mr. Mazzo have mutually agreed that he will suspend any activities as a Versant Operating partner until he has resolved the legal matters. We have no other comment.” It appears that he will maintain his role with AcuFocus, which is a Versant portfolio company. AcuFocus itself has not responded to any requests for comment. Sign up for our daily newsletter on deals and deal-makers.