Musical Chairs at NVCA

The National Venture Capital Association yesterday announced that Ted Schlein of Kleiner Perkins would succeed Bob Grady as chairman for the upcoming year. But, as Alex Haislip reported last year, the job had originally been expected to go to board member Heidi Roizen of Mobius Venture Capital. So, what happened?

In short, Mobius decided not to raise another fund – and Roizen felt that the chair should be an active investor. NVCA spokeswoman Emily Mendell says that Roizen approached the board last September, and recommended that another member take the chair position in 2007.

“This was a difficult decision for NVCA because Heidi has been an extremely valuable Board member and would have made an excellent chair,” Mendell explains. “But the Board accepted her recommendation and Ted Schlein stepped in.”