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Comment by mattbauer | Hacker News Reader

OP if you're looking to raise $ from OVP, I'd suggest you keep looking.

I am aware they shut down (someone was lamenting how VC firms in the Seattle area are shutting down, the other being Frazier technologies) and was curious why so I went to their site. If you miss deals like those, it is inevitable that you have to shut down :)

Anyways, I also found this article: http://www.xconomy.com/seattle/2012/10/11/exclusive-ovp-vent...

Interesting article in xconomy. I hadn't realized that all three of their final funds had negative IRRs. That is a pretty challenging place to be.

Wtf is Seattle so weak for VC? It has a lot of rich people, mostly who got rich from tech. Ignition is nice (but do most of their investments in the Bay Area now, wtf), and I've never talked to Madrona but they seem to be the other one. If I were going to do a 30-50mm global fund, I'd probably base it in Seattle. Great for security, cloud, etc., with a great school (UW), successful local companies, etc.

Perhaps the folks who got rich from MSFT or AMZN simply never wanted to think about tech again.

Plenty of tech other than those two -- F5, McCaw, etc.

Sure, but based on what little I know about the Seattle tech scene, it seems like a common goal is to make a lot of money and then get out of the game entirely.

Contrast with Bay Area, where many people seem to love the game and aspire to be angel investors themselves one day.

This is just conjecture, there's likely some other reason.

Yeah, I get that from some Seattle people -- which seems really weird to me. If I didn't care about tech, I'd just do something like banking where returns are more predictable and to some extent easier. If I did care about tech (and do), I'd not want to leave just because I made a lot of money.

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