This space reported last month that Terry Garnett was planning to move from Silicon Valley to London, while remaining a managing director with namesake firm Garnett & Helfrich Capital. The move caused a bit of stir among both existing and prospective limited partners (G&H is expected to raise its second fund this year), but most folks rationalized that the firm probably should have a European presence anyway.
But it seems that things have changed. Some of the same people who originally told me about Garnett’s plans to leave, now say that he’s reconsidered and will stay put. No formal explanation for Garnett’s change of heart, but it’s likely related to Mark Guthrie’s recent decision to leave for Symphony Technology Group. More specifically, it would have been difficult to raise the second fund – expected to be around twice the size of Fund I – with so little team depth in Silicon Valley.