Yet another partner leaves the European arm of Google Ventures
Avid Larizadeh Duggan heads for pastures new, leaving one partner remaining
Tech giant Google's European venture capital firm, GV, continues to face challenges, with yet another partner leaving the organisation for a new opportunity.
According to Business Insider, Avid Larizadeh Duggan has confirmed she's to join music technology firm Kobalt, which describes itself as an independent rights management and publishing company.
She'll take up the role of executive vice president and chief strategy and business officer next month. Her job will be to manage and develop the firm's strategy and business teams globally.
Larizadeh Duggan has already worked with the company, being she was instrumental in GV's investment deal with Kobalt in 2015.
The firm secured 40 million in funding to launch a global expansion plan and to improve its product offering. This also happened to be Google Ventures' first European investment.
Although this is clearly a big opportunity for Larizadeh Duggan, GV appears to be struggling. Her departure means there's only one partner left working at the firm in Europe, Tom Hulme.
As Business Insider points out, she was the only female general partner working at Google's investment company and the firm hasn't announced any plans about redeveloping the partner team.
In 2015, Peter Read became the first partner to depart the company. But by the end of the year, Eze Vidra made similar decision and MG Siegler ended up quitting, too.
Google brought GV (formerly Google Ventures) to Europe in 2014 and ploughed $125 million (92.6 million) into the organisation. At the time, it hired five partners.
In a statement about her new position, Larizadeh Duggan said: "As one of my portfolio companies while at GV, I had been closely witnessing Willard (Ahdritz, Kobalt's founder and CEO)'s inspiring leadership and the Kobalt team's commitment to build the music industry by putting creators first.
"Kobalt is on a clear mission to bring transparency, fairness and efficiency to the music industry as a whole through the combination of technology, one of the best creative teams in the industry and bold vision.
"To have the opportunity to drive forward this mission and be part of Kobalt's stellar team at such a key time in the company's growth, is a real privilege."
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