Legendary VC Bill Gurley reportedly won't join Benchmark's new fund - Business Insider

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This absence marks a significant change for Gurley, who has been actively involved in the firm's funds ever since he joined Benchmark in 1999.Visit Business Insider's homepage for more storiesSilicon Valley's legendary investor Bill Gurley may soon be taking a step back from his role as a general partner at Benchmark,Benchmark is currently in the process of raising $425 million for its tenth venture fund, the report said.

Although sources told the Wall Street Journal that the move does not necessarily signal an immediate departure from the firm, it is the first fund that Gurley has not taken an active role in, since joining the firm in 1999. Gurley would continue to take an active role in the companies that Benchmark previously backed, the report said.

Both Benchmark and Bill Gurley did not immediately respond to Business Insider's requests for comment. As an investor with something of a Midas touch, Gurley has brought Benchmark billions in returns through bets on companies ranging from GrubHub to Stitch Fix. Gurley is especially famous for backing Uber in 2011 with $10 million, a stake which eventually brought in $8 billion for Benchmark, as Chernova and Winkler recounted.

yeah, bc he's lost his edge

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