MINNEAPOLIS -- Investment Advisers Inc. announced it is spinning off its venture capital investment arm, IAI Ventures.
The new entity will be called Crescendo Venture Management.
The change will allow IAI to focus on its core investment management business.
Crescendo will be owned by current members of the IAI Ventures management team.
It will be headed by R. David Spreng, who serves as managing partner and president of IAI Ventures.