Slideshow: The Best Time for a VC Promotion

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by || 04/25/2011

What’s the likeliest time to get a promotion at a venture capital firm? About three years after its last fund closed.

That’s what I found in my analysis of promotion announcements from U.S. venture capital firms so far this year. The sample set — drawn from 17 announcements published on PEHub — shows the largest number of promotions occurred at firms that last closed a fund in 2008. Most others last closed in 2007 or 2009.

The timing makes sense, given that most funds of that vintage are nearing the end of their most active investment period, and firms are probably starting to plan their next fund-raising effort. That makes it even more crucial to retain talented people and put in place a partnership that will see the firm through its next investment cycle.

Here we take a look at who’s been moving up the ranks this year at firms with 2008-vintage funds. We’ll also look at industry expertise and investment track records among the recently promoted.

Brian Zimmerman

Promotion: From Principal to Managing Director
Firm: OpenView Venture Partners
Location: Boston
Last fund: OpenView closed on $130 million for its technology-focused Fund II in 2008, according to Thomson Reuters.
Background: Zimmerman was previously a principal at Insight Venture Partners, director of corporate sales at Tidal Software, and a player for the New York Mets. Was part of OpenView’s founding team in 2006.
Role at firm: Zimmerman leads OpenView Labs, which provides consulting services to portfolio companies.

Adam Marcus

Promotion: Managing Director (joined firm as principal in September 2009)
Firm: OpenView Venture Partners
Location: Boston
Last fund: OpenView closed on $130 million for its technology-focused Fund II in 2008, according to Thomson Reuters.
Background: Marcus previously worked at Battery Ventures, focusing on investments in marketing services and digital media and was director of corporate development for the Boston Celtics.
Investment info: Currently sits on the boards of Kareo, uSamp and Prognosis.