FORTUNE — Dave Crowder has stepped down as a partner with GSV Capital (GSVC), the publicly-traded late-stage venture capital fund where he had been involved since inception.
His next role will be as co-founder of VSL Partners, a new firm that will make loans to shareholders of pre-IPO companies (including employees). Basically sounds like a carbon copy of 137 Ventures, which has been in business since 2010.
According to regulatory filings, Crowder’s two partners at VSL are Robert Pitti, a former wealth manager for BNY Mellon, and Steve Gold, a former managing director with Citi Private Bank. They are seeking to raise upwards of $20 million for the debut fund.
Prior to joining GSV, Crowder was a co-founder and general partner with Thomas Weisel Venture Partners. Before that, he worked with GSV founder Michael Moe in the mid-1990s at Montgomery Securities.
Fortune has reached out to Crowder, and will update this post if we hear back.
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