Hosein Khajeh-Hosseiny tells Axios that he has stepped down as CEO and managing general partner of San Francisco's Northgate Capital.
Why it matters: Northgate is a major player in the venture capital and private equity firms, managing nearly $5 billion of direct investment and fund-of-funds assets.
His plan is to form a new tech consulting and early-stage investment firm called Open X Innovations.:
Khajeh-Hosseiny declined to identify his Open X partners, except to say that he has some. Initial investments will come from personal money.
Northgate has not yet named a replacement. CFO/COO Mo Virani says it is "in process."
