Tenaya Capital

Last updated
Tenaya Capital
Company type Private
Industry Venture capital
Predecessor Lehman Brothers Venture Partners
Founded1995
Headquarters
Woodside, California
,
United States
Products Investments
Total assets $750 million
Website www.tenayacapital.com

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. [1]

Contents

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. [2] [3]

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. [1]

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. [4] [5] It opened its seventh fund in 2015. [6]

See also

References

  1. 1 2 Lehman to Spin Off Venture-Capital Arm. Wall Street Journal, February 24, 2009
  2. ↑ Lehman Brothers Plans Private-Equity Spinoff. Wall Street Journal, January 9, 2009
  3. ↑ Lehman Brothers Merchant Banking In Limbo. IDD Magazine, September 15, 2008
  4. ↑ Geron, Tomio. "Tenaya Capital Closes $372 Million For First Post-Lehman Fund". Forbes. Retrieved 2025-07-17.
  5. ↑ "Tenaya Capital - Venture Capital Firm | Signal". Signal: where top founders find and get introduced to the right investors. Archived from the original on 2025-06-19. Retrieved 2025-07-17.
  6. ↑ Gage, Deborah (29 May 2015). "Tenaya Capital to Start Investing $450M Seventh Fund". Wall Street Journal.


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