Wednesday, August 09, 2006

Private Equity Week - Goodbye ITU

"ITU Ventures, a firm launched in 2000 by three 20-somethings, has lost three of its investors and is in the midst of shutting down, according to an LP document obtained by PE Week.
The Harvard Endowment, the biggest investor in ITU Ventures III, a $120 million fund raised in February 2006, circulated an email to the other limited partners calling for a termination of the fund, according to a staff report to the Board of Fire and Police Pension Commissioners for the city of Los Angeles, an ITU LP."

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