Ron Conway, considered the "Godfather of Silicon Valley," said his venture capital firm, SV Angel, will not be raising a new fund.
In a Medium post co-authored by the firm's general partners, Conway said it will "scale back the existing SV Angel team" and shift focus to angel investing. He expects to cut checks between $25,000 and $100,000 per company.
Founded in 2009, SV Angel made early bets on Facebook, Twitter, and Airbnb.
Ron Conway, one of the tech industry's most prominent and powerful startup investors, who had early stakes in Facebook, Twitter, and Airbnb, said in a Medium post on Thursday that his early-stage investment firm, SV Angel, will not be raising a new fund.