Dali Hook Partners is no more, as co-founders Paul Dali and David Hook appear to have gone their separate ways. Dali is now in charge of successor firm Keynote Ventures, while Hook is running a separate entity called Baymark Partners.
The two venture veterans formed Dali Hook in early 2001 to make early-stage investments in communications, software and semiconductor companies. Menlo Park-based Dali previously had been the founder and managing general partner of Convergence Partners, with past GP experience at both Nazem & Co. and 3i Group. Dallas-based Hook had worked at Mohr Davidow Ventures in the mid-1980s, before co-founding a firm named Hook Partners.
Dali Hook soon added venture partner Haru Kato, and then closed its inaugural fund with nearly $70 million. Like most 2001-vintage funds, Dali Hook invested in its fair share of since-deceased dogs, but it also had its fare share of M&A liquidity events (although some of those might have been better characterized as asset disposals).
The firm added Alessandro Biral in 2003, and then last year raised around $40.3 million for an annex fund from LPs like Adams Street Partners and Harbourvest. A related regulatory filing just lists Dali, Katu and Biral – with David Hook only present as a masthead namesake. The final public mention of Dali Hook came on February 7, when LoadStar Sensors announced that the firm had participated on a $7 million Series B round. Since then, the website has been redirected to the new Keynote Ventures page, without mention of either Hook or the Dallas office. A source familiar with the situation says to expect a Keynote fund offering shortly, while Hook is currently looking to staff up.
I’ve left voicemail messages for both Biral (Dali is out this week) and Hook, and will update if/when I learn more…