Tenaya Capital is a venture capital firm with offices in Portola Valley, California, and Wellesley, Massachusetts. Founded in 1995 as Lehman Brothers Venture Partners, Tenaya spun out to become an independent firm in 2009 following Lehman's bankruptcy.Lehman to Spin Off Venture-Capital Arm. Wall Street Journal, February 24, 2009
Lehman Brothers bankruptcy and LBVP spin out
On September 15, 2008, Lehman Brothers filed for bankruptcy protection. As part of the liquidation process, Lazard was appointed to sell certain interests in Lehman Brothers Venture Partners and its other private investment units.Lehman Brothers Plans Private-Equity Spinoff. Wall Street Journal, January 9, 2009Lehman Brothers Merchant Banking In Limbo. IDD Magazine, September 15, 2008
In January 2009, HarbourVest Partners, a Boston private equity fund of funds, financed the spinout of Tenaya, acquiring Lehman's existing investment and unfunded commitments to Tenaya venture funds.
Tenaya invests in mid-to-late stage companies, and its first fund after its spin out from Lehman Brothers was Tenaya Capital VI, which closed at $372 million.It opened its seventh fund in 2015.
See also Lehman Brothers Merchant Banking
References
External links Official website