Vanguard Ventures raised its first fund in 1981, and may well have raised its last one in 2000. The firm had planned to begin raising $150 million for its eighth fund in 2005, but put its plans on hold after LPs balked at a lack of significant liquidity events. Since then, Vanguard has lost yet another fulltime partner — Don Wood to DFJ — leaving it with just two (Tom McConnell and Dan Eilers).
Firm founder Jack Gill already wasn’t planning to be a part of the new fund, in order to help raise a new fund with his daughter (Maven Venture Partners, which may be suffering from a case of stillborn).
According to its website, Vanguard still has over 20 active portfolio companies.