When people ask me to name the most important venture capital firm in Boston, my answer is always the same: Accomplice. Now, however, it seems that the firm has grander geographic aspirations.
Here's what's happening, per a source familiar with the situation (and confirmed by Accomplice partner Jeff Fagnan):
- Accomplice is expanding west, with plans to hire a partner and between one and two junior investment professionals in San Francisco. In the interim, Boston-based Fagnan plans to spend around half of his time in San Francisco. Also working out of San Francisco is Dustin Dolginow, who also helps manage the Maiden Lane seed funds (an affiliate of both Accomplice and AngelList).
- The firm plans to begin raising its next fund in Q4. That vehicle is expected to feature an even split of Massachusetts and California-based tech startups.
- Chris Lynch, who joined as a partner in 2012 after selling his company (Vertica) to HP for $350 million, will not be a partner on that next fund. He also is no longer making new investments, although he's continuing to serve on existing portfolio company boards.
Currently, this leaves Accomplice with five investment professionals who can write checks.