SV Angel Co-Founder David Lee Launches New VC Firm

March 22, 2016, 11:01 AM UTC
TechCrunch Disrupt SF 2014 - Day 3
SAN FRANCISCO, CA - SEPTEMBER 10: SV Angel Founder and Managing Partner David Lee judges onstage the Startup Battlefield Finals at TechCrunch Disrupt at Pier 48 on September 10, 2014 in San Francisco, California. (Photo by Steve Jennings/Getty Images for TechCrunch)
Photograph by Steve Jennings — Getty Images

David Lee, the seed-stage venture capitalist who last year resigned from the firm he had co-founded with Ron Conway, is back with a new firm called Refactor Capital.

The nascent effort was disclosed in an SEC filing, which shows that Lee will partner with Zal Bilimoria (most recently a partner with Andreessen Horowitz) and Rick Barber (ex-chief of staff at Nuna Health). Lee and Bilimoria each are former Google employees, and the trio is seeking upwards of $50 million for their debut fund.

Lee had co-founded SV Angel with Conway back in 2007 and effectively led investment efforts beginning in 2010. But he suddenly resigned last May without much explanation.

A source familiar with Refactor says that the plan is to focus on seed-stage software startups on the West Coast, including (but not limited to) healthcare IT. The SEC document lists a Burlingame, CA headquarters, but Lee is expected to remain based in Los Angeles.

Lee declined to comment, citing SEC marketing restrictions.

Read More

CryptocurrencyInvestingBanksReal Estate