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Louie, fresh from CIA, joins with Alsop in new fund

Gilman Louie.jpg
Gilman Louie
The James Bond of venture capital doesn't waste time.

Only two days after we reported that Gilman Louie was leaving his position as CEO of the CIA's venture fund, we find out he is joining with former journalist and investor Stewart Alsop in raising a new venture capital fund.

VentureWire (subscription required) reports they are raising a modestly sized $75 million fund to invest in early-stage technology companies. The new venture will be called "Alsop Louie Partners," and based here in...

Silicon Valley.

Mr. Alsop, 53 years old, says investors have so far committed about 20% of the $75 million he is trying to raise. NEA, Mr. Alsop's old firm, is an investor in the fund. Mr. Alsop, a former magazine editor, joined NEA in 1996. He left his position as a NEA general partner about a year ago, saying he and the firm were no longer a good fit.

At their new firm, Messrs. Alsop and Louie don't intend to sit on many boards of directors, as venture capitalists traditionally do, but plan to guide entrepreneurs outside of board meetings. That has been In-Q-Tel's model, says Mr. Louie.

For more background on Alsop, read our mini-profile done a few years ago, during the tough post-bubble times. Alsop humored us, opening up with an honest look at his failures.

And as for Louie, see the first link above for more about him. We know called him "Q" in previous stories, but check out the photo -- we decided he looks more like Bond....James Bond.

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I think you should profile Bessemer's Anti-Portfolio. It is a really refreshing bit of honesty and humor. Every VC should post one to earn credibility :-)

Anti-Portfolio on January 6, 2006 12:23 AM
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Read your mini profile and now I know the reason why more journalists don't become VCs. And I thought it was because we cannot calculate entry/exit variables vis-a-vis carried interest and talk at the same time.

Valerie Thompson on January 6, 2006 7:06 AM
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Thx Valerie

Just wondering, what are you referring to specifically?

I concede the article could have been clearer. It went through an editing process, which cut out some context. But if you are talking about the $4.5 million caluclation re Nortel stuff, please note that it is not derived from the $10 billion number.

Matt Marshall on January 6, 2006 7:15 AM
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Apologies, Valerie, I just read your post at http://swissventures.blogspot.com/2006/01/why-journalists-are-not-vcs.html#links.

I'm a little slow this morning, and just realized you are talking about Alsop's views on journalists, and not my own inability to perform basic calculations and talk at the same time.

Matt Marshall on January 6, 2006 7:25 AM
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We are a developmental stage company. We have patented a device which is a single patient use, disposable oxygen sensor. This patented State of the Art electronic process eliminates handling, sterilizing and assembly of existing Galvanic Sensors which may lead to "V.A.P."(ventilator assisted pneumonia), noscomial infection. Inclusion of this integral oxygen monitoring system expedites all procedures and its absence is a disadvantage. The use of our device virtually eliminates cross-contamination & infection. We are currently engaged in independent testing by an organization which will assist and is experienced in Food & Drug Administration(FDA) approvals. Our immediate goal is to raise approximately $2,000,000 to take us through the next 12 months of activity in order to bring our product to market.

Michael G. Meall on January 6, 2006 8:09 AM
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This is to request verification that my e-mail of Friday, January 6, 2006 informing you of our disposable oxygen sensor was received. Also, as an update, today we met with a major battery manufacturer and secured their interest in collaborating with us to complete the development of our patented product. We should be concluding that relationship later this month. At this time we are initiating an agreement with a company for the testing of our product which will then be presented to the Food & Drug Administration (FDA) for the appropriate approvals. This should take about 9 to 12 months. Then the marketing of the product will begin. Our financial needs at this time is $1,500,000 to take us through these phases.

My telephone number is 215-654-1131 if that is of help.

Michael G. Meall on January 9, 2006 2:33 PM
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Thanks for the article on Gilman Louie's new venture. I was trying to learn more about Alsop Louie Partners, but there is not much out there. Is there a way to get in touch with either gentleman that you could share with me?

Reimar on January 11, 2006 8:35 AM
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There isn't much about Alsop Louie Partners because we're still putting the fund together. Our lawyers are worried that we might have said too much already! Meanwhile you can entertain yourself with my small thoughts (see URL), which have nothing to do with venture capital!

Stewart Alsop on January 11, 2006 9:02 AM
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