Like many venture firms that surfaced in the go-go days of the late ‘90s, Blueprint Ventures, a South San Francisco based firm that focused on IP spinouts, eventually failed to continue attracting sufficient LP interest and began winding down three years ago.
Though Blueprint’s team continued to manage the firm’s portfolio on a part-time basis, one cofounder, Bart Schachter, headed off to National Semiconductor to head up corporate development. Another managing director, George Hoyem, headed off to the CIA-backed venture firm In-Q-Tel as an investment partner. The firm’s third managing director, Jim Huston, founded Portland Seed Fund, an early-stage organization that targets startups in Oregon and Southwest Washington.
Now Blueprint, or a new iteration of it, is back. At least, Schachter has registered a new corporation with the SEC called Blueprint Ventures Fund that lists his name alone. The filing doesn’t list a target; it states that the new organization, based on Spear Street in San Francisco’s financial district, has yet to complete its first sale. The filing also states that Schachter has been doing business as Lead Ventures.
Schachter has not responded to a request for comment. It’s (maybe) worth noting that the domain leadventures.com is for sale.
Schachter, who left National Semiconductor at the end of 2011, appears to have jumped back into the venture game through secondary sales. According to his LinkedIn profile, in January of last year, he raised $40 million to make employee stock option purchases. His profile states that he is “currently investing out of this Fund.”
The original Blueprint Ventures dropped its last fundraising effort in the fall of 2008, in the aftermath of the economic collapse.
Logo: Courtesy of Blueprint Ventures