Three sources say Tunguz mulled an exit, but Redpoint says he is staying put for now—just no longer as a general partner.
A Dartmouth College graduate, Tunguz spent three years as a product manager at Google before moving to Redpoint during the 2008 recession. He was promoted to partner in 2013, the same year he secured his most notable VC deal, a Series A lead investment into data analytics company Looker at a $80 million valuation; the company exited in a $2.6 billion sale to Google in 2019. He took on the managing director role with the firm’s seventh early-stage fund in 2018.
Redpoint, meanwhile, is still working out its second generational transition, according to two people with knowledge of the matter. The first came about a decade ago, after Satish Dharmaraj , Elliot Geidt and Tunguz joined and began taking larger roles at the firm. Along with Scott Raney , who joined the firm in 2000 shortly after it was founded, Redpoint bolstered its reputation for spotting enterprise software winners with investments into companies such as Twilio, Snowflake and HashiCorp.
This time around, the firm appears to be experimenting with new strategies to attract founders, such as being one of the first VC firms to use social networking app TikTok. Still, its most recent hires to the managing director position, Brescia and —both former GitHub executives—indicate it is doubling down on its bread and butter. How the new generation fares as stewards in Tunguz’s place remains to be seen.
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