Brian McLoughlin has stepped down as a partner with Los Angeles-based venture capital firm Upfront Ventures, Fortune has learned. His last day was yesterday.
McLoughlin had been with Upfront since 2002 (when it was still known as GRP Partners), with a focus on financial technology companies. His next job will be as a venture partner with Fintech Collective, a New York-based firm that focuses on seed and early-stage investments in the financial services industry. He also will serve as a special advisor to Thayer Street Partners, with a focus on later-stage financial tech and enterprise SaaS opportunities.
McLoughlin had worked with such companies as Skyline Financial, EMIDA Technologies, Mobiclip, mPay Gateway and mFoundry (sold to FIS last year). All of his remaining portfolio responsibilities will be transitioned to remaining Upfront staffers, according to a source familiar with the situation.
In a letter to friends and colleagues, McLoughlin said:
“Those of you who know me well know that I am deeply passionate about financial services and technology. The next decade is likely to be one of the best for investing in fintech, and I am excited to share that I have joined Fintech Collective as a Venture Partner… I remain a good friend of Upfront Ventures and continue to be an investor in the Upfront funds.”
Upfront currently is investing out of a $200 million fund raised last year, on which McLoughlin was one of four general partners. It appears that he has been replaced as a GP by Greg Bettinelli, who joined the firm last year as a venture partner but became a fulltimer in early 2014. The firm’s other three partners are Mark Suster, Steven Dietz and Yves Sistrron.
Fortune has reached out to both McLaughlin and Upfront for comment, but has not yet heard back.
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