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Flare Capital Partners Loses Co-Founding Partner

Lee WrubelLee Wrubel
Lee Wrubel

Lee Wrubel has quietly stepped down as a general partner with Flare Capital Partners, a healthcare IT-focused VC firm, in order to join executive recruiting firm Egon Zehnder, Fortune has learned.

Wrubel had been a longtime partner with Connecticut-based Foundation Medical Partners, before it effectively merged in 2013 with a pair of Boston-based healthcare investors ― Michael Greeley (ex-Flybridge Capital Partners) and Bill Geary (ex-Northbridge Venture Partners). In 2014 the firm rebranded as Flare Capital Partners, and raised $200 million for its debut fund.

The trouble for Wrubel, however, apparently was that the firm decided recently to relocate all operations to Boston, and he didn’t want to go.

“A single office will enable us to build an effective partnership and firm culture,” Michael Greeley said via email “Lee did not relocate to the Boston area and therefore has transitioned out.”

Wrubel declined comment.