One of the co-founders of local VC firm American River Ventures is stepping back. ARV is currently raising another fund, but The Sac Bee's Bob Shallit says that Corely Phillips has other plans.
Raising a new fund takes a long term commitment, often taking a decade or more to raise the money, make the investments, and wait for those companies to grow their businesses to a successful return for the investors. Phillips says he doesn't want to commit that much time and plans to spend more time with family and friends. Read more about American River Ventures co-founder scaling back