Investment Advisers Inc. is spinning out its venture capital investment arm, IAI Ventures. The change will allow IAI to focus on its core investment management business. Terms weren't disclosed.
The new company, Crescendo Venture Management, will be owned by IAI Ventures' management team, headed R. David Spreng, managing partner and president. Under IAI, IAI Ventures was general partner in a series of limited partnerships focusing on early stage investments in information technology, communication services and health care.