Mayfield nabs a rising star in Tim Chang.
Venture capitalist Tim Chang is switching firms, Fortune has learned. Chang will step down as a partner with Norwest Venture Partners in order to join Mayfield as a managing director.
Chang is best known for his gaming investments, including Playdom (sold to Disney for over $700 million) and ngMoco (sold to DeNA for $400 million). He also runs China and Asia-Pacific operations for Norwest, which he joined in 2006 from Gabriel Venture Partners.
I’m not quite sure if he’s co-invested with Mayfield in the past, but Chang does play bass in a funk band that also features Mayfield managing director Raj Kapoor on vocals. Moreover, current Mayfield boss Navin Chaddha — with whom Chang will be sharing responsibilities, alongside two other MDs — also left Gabriel in 2006.
I’ve put in calls to both Mayfield and Norwest, but have not yet heard back. Likely because everyone is in “Monday” partner meetings. Or perhaps because I’m told that Mayfield has a formal announcement coming later this week.
Update: Mayfield has just issued a press release on the news, and I spent some time on the phone with both Chang and Chaddha. Chang noted that he had turned down multiple offers to leave Norwest over the past few months:
“The real driver is that Navin and I have known each other for a long time and we really trust each other,” Chang said. “This also helps me return to my roots, with a smaller team focused on early-stage venture.” He added that his first official day at Mayfield is this coming Friday.
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