Friday, February 27, 2015

Control4 Venture Investors Exit Stage Left

In an unsurprising move, the early, venture-stage investors of Salt Lake's Control4 are exiting stage left from the company, nearly three years after the company's IPO. According to Control4, Len Jordan of Madrona Ventures Group and Steven Vassalo of Foundation Capital are both stepping down from Control4's board. Jordan has been on the board of Control4 since he was at Frazier Technology Ventures, since 2004.Vassalo joined Control4's board back in 2005, after Foundation Capital took a stake in the then-pre-IPO company. Control4 said it has launched a search for new directors with similar, industry experience and operating capability. It's not unusual for venture investors to exit the boards of their once-portfolio companies, once they have reached an IPO.