Guggenheim Venture Partners has spun out of Guggenheim Partners into a new private equity and venture capital firm, Alara Capital, confirmed a Guggenheim spokesman.
Guggenheim Partners sold its joint venture interest in Guggenheim Venture Partners “for nominal consideration” to joint venture partners Mike Burns and Eric Rothfus, the spokesman said in an e-mail. The two men now are managing directors at Alara.
Guggenheim is one of the largest limited partners in Alara's first fund, the $65 million Guggenheim Technology Ventures I. But future funds will be set up independently of Guggenheim.
Alara plans to expand into growth equity and active value investing in future private equity funds while continuing to invest in undercapitalized technology companies.
The entire Guggenheim Venture Partners team is moving to Alara Capital.