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For a busted fund, VSP Capital seems to be doing fine

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Published June 14, 2006 at 10:41 AM

Faced with an ugly lawsuit, fund liquidation and general partner departures, VSP Capital is in turmoil.

But, despite those ongoing woes, the firm did manage to complete a very profitable Web 2.0 exit earlier this year. And general partner John Hamm penned an article about leadership published in the Harvard Business Review last month.

According to a lawsuit filed by a former VSP Capital general partner last week, the firm invested $750,000 in video search engine Truveo Inc. When Truveo was acquired by AOL earlier this year, VSP Capital earned a $9 million net return. VSP was Truveo's only venture capital investor.

Not bad for a firm accused of a laundry list of misdeeds.

For more on VSP Capital's woes see:
PE Week
Silicon Beat

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