Atlas Venture Reorganizes, Fred Destin Heads To U.S.
One year ago next week, I wrote about how Atlas Venture had slimmed its personnel roster after a disappointing fund-raising drive. Now, the firm is making additional changes. Atlas has opted to consolidate its deal-making and operational activities within its Waltham, Mass. office (which could soon relocate closer to, or within, Boston). That means no more deals coming out of London, even though Atlas will maintain a few staffers on the ground there for portfolio management and investor relations purposes. London-based partner Fred Destin will relocate to the U.S. (he’s already bought a house in Brookline), while fellow London-based partners Graham O’Keefe and Regina Hodits will become venture partners (i.e., continue to work with their existing portfolio companies). Chris Spray will continue to serve as a partner focused on LP relations and portfolio management, but is not expected to make new deals nor stay on when Atlas eventually raises its next fund. There also are a few junior/backend layoffs in London, while Waltham-based venture partner Jeff Andrews is leaving to become head of strategy for an Atlas portfolio company.
