Scott Kupor, the first hire at Silicon Valley venture capital powerhouse Andreessen Horowitz, is stepping away from active management of dozens of funds but maintaining passive stake in nearly 40 other firm funds, as the Senate weighs his nomination by Trump to lead the Office of Personnel Management.
Kupor will resign as managing partner from a16z, as the firm is known, and has already given up his managing member seat in 32 a16z funds, including several of the firm’s bio and seed funds, according to a letter he wrote to the OPM ethics official that was made public ahead of his confirmation hearing on Thursday. He will remain a passive investor in 38 other funds, according to the letter, though he will forfeit any carried interest that is unvested when he is appointed.
