FORTUNE — Dave Crowder has stepped down as a partner with GSV Capital (GSVC), the publicly-traded late-stage venture capital fund where he had been involved since inception.
His next role will be as co-founder of VSL Partners, a new firm that will make loans to shareholders of pre-IPO companies (including employees). Basically sounds like a carbon copy of 137 Ventures, which has been in business since 2010.
According to regulatory filings, Crowder’s two partners at VSL are Robert Pitti, a former wealth manager for BNY Mellon, and Steve Gold, a former managing director with Citi Private Bank. They are seeking to raise upwards of $20 million for the debut fund.
Prior to joining GSV, Crowder was a co-founder and general partner with Thomas Weisel Venture Partners. Before that, he worked with GSV founder Michael Moe in the mid-1990s at Montgomery Securities.
Coins2Day has reached out to Crowder, and will update this post if we hear back.
Sign up for Dan Primack’s daily email newsletter on deals and deal-makers: GetTermSheet.com