Manager of venture capital fund family after sponsor was removed for allegations of misappropriations.
Force 10 was retained in 2018 pursuant to a binding arbitration ruling to serve as the Interim Manager. Force 10 was then elected to serve as the permanent Manager of the two venture capital funds. The former general partner was found to have breached his fiduciary duties to the funds and withdrew excessive management fees. The arbitrator awarded these funds a judgment against the prior general partner in excess of $16 million. The total invested capital of these funds is in excess of $49 million.
Since appointment, Brian Weiss of Force 10 Partners has been serving as the fund manager overseeing the portfolio companies’ investments, performing fund accounting, managing communications with limited partners, ensuring fund compliance, managing litigation matters, and seeking to maximize the value of the portfolio.