Bank of America spun off its U.S. venture capital unit, BA Venture Partners, which now operates independently as Scale Venture Partners, said Carol Sacks, Scale spokeswoman. Bank of America will reduce its role from sole limited partner to a minority investor in Scale's second fund, BA Ventures II, which closed in 2005 with $400 million. BA Venture Partners' top executives and investment professionals will remain at Scale, she said.
Two months ago, Bank of America spun out its European venture business, Argan Capital, which was formerly called BA Capital Partners Europe.
