Index Ventures' Danny Rimer and Mike Volpi to Open Silicon Valley Office
Two of Index Ventures’ high-profile partners–Danny Rimer and Mike Volpi–are opening a new Silicon Valley office for the Europe-based venture firm in September.
The move is actually more of a return home for both men, now located in London, who had lived and worked at tech epicenter for much of their careers.
Among other things, before their stints at Index, Rimer was an Internet analyst at Hambrecht & Quist and also at the now-defunct Barksdale Group, while Volpi was an exec at Cisco.
BoomTown had been hearing about the possibility of the move for months, but Rimer and Volpi finally confirmed it in an interview yesterday.
“We thought we would be better positioned to support our entrepreneurs by being in Silicon Valley,” said Volpi (pictured here), who left the area when he became CEO of the then-hyped Joost premium online video service. “Having two solid investors from Index on the West Coast was important, as opposed to a chipshot.”
Volpi noted that of Index’s $1.3 billion in investments in 173 companies, $400 million was in 58 U.S.-based start-ups. In addition, the firm had helped another 35 move here.
There are currently nine investing partners at Index, which is actually headquartered in Geneva, Switzerland.
Rimer noted that initially it will just be him and Volpi here, as well as some support staff. But it was likely they would expand their office, which will be located in either San Francisco or around Palo Alto, Calif.
“It has been a challenge to be a European firm and also be present in the Valley and be considered an insider here,” said Rimer (pictured here), who often traveled to California. “There is a lot to have an immediate ability to be face-to-face with our companies.”
Recent investments by Index in California include Flipboard, Swipely, Boku and Factual.
Rimer and Volpi said the move did not mean deals were only to be found in Silicon Valley, as Index is not focused on geographical investing.
In addition, the pair will continue their focus on cloud computing, infrastructure and social, wherever the investments were to be found.
“We’re not coming to the U.S. to do only U.S. deals,” said Volpi. “But there is a lot to be said for being part of the daily mix in Silicon Valley.”
In other words: Party at Mary Meeker’s house!
(The well-known Morgan Stanley analyst has also recently moved to the West Coast from New York to join Kleiner Perkins.)