We were a little skeptical when we heard “personal reasons” cited for the departure of William “Boots” Del Biaggio III from Sand Hill Capital earlier this week. Now the Mercury News is reporting that the feds are probing Del Biaggio’s “business dealings.”
Not exactly sure what that means. In addition to co-founding Sand Hill Capital, which makes loans to venture-backed companies, Del Biaggio is a part owner of the Nashville Predators hockey team and was once a minority owner of the San Jose Sharks hockey team.
A Sand Hill Capital spokeswoman told the Mercury News: “Sand Hill Capital is not the target of any sort of investigation.” The paper said Del Biaggio’s lawyer, Elliot Peters, e-mailed a statement that read: “Boots Del Biaggio is a good and generous person. Boots will cooperate fully with any investigation.”