Nye was working out of his home office in Southern California after his East Coast firm, Prism VentureWorks in Needham, suspended efforts to raise its sixth fund and closed its office in Venice.
He supported Prism’s decision as being best for the business and said he could have stayed on — Prism is still deploying the rest of its fifth fund. But, he said, “the prospect of being a satellite in a home office with a partnership that needs to be face-to-face, serving its portfolio, was not a setup that I thought was great for either group.”
Also, “the (venture) industry is at a challenging precipice. My happiest professional days were as an operating person, I was told by my wife.”