Panorama Capital Co-Founders Launch Founders Circle Capital for Secondary Tech Buys

A couple of founders of Panorama Capital are raising capital for Founders Circle Capital, a direct secondary technology investment fund, according to a filing with the SEC.

The filing doesn’t specify a target the firm is aiming to raise.

Mike Jung, who appears to no longer be with Panorama, and a Silicon Valley Bank veteran are joining Chris Albinson, who seems to remain with Panorama, at the fund.

Jung’s profile on LinkedIn states he left Panorama Capital in September 2012. However, he is still listed as a partner and co-founder at the VC on its website Monday morning. Albinson’s online profile states he is still with Panorama Capital, where he is also a co-founder, but that he is also a managing director with Founders Circle.

The founders’ dedication to a new fund suggests Panorama Capital may not raise a new fund, said one source that spoke with peHUB. It is unclear what timetable the VC is on to raise another vehicle.

Under Jung’s bio with Panorama, one of his notable investments is listed as being ShoeDazzle, according to the web page that was up at the time of publication.

Both Jung and Albinson are JP Morgan Partners’ veterans. It is unclear whether Founders Circle has any affiliation with Panorama at all; the firm’s LinkedIn page states Silicon Valley Bank is in a “strategic partnership” with the fund. Panorama was an investment arm of JP Morgan that was spun off in 2008 and raised a $240 million vehicle.

Only Jung is listed in the federal filing. On LinkedIn, Ken Loveless, a managing director with Silicon Valley Bank, is also named as a managing director with Founders Circle.

PeHUB could not get comment for this story.

Image Credit: Shutterstock.com

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