TechCrunch founder Michael Arrington is stepping back from some of his responsibilities at CrunchFund, the seed-stage venture capital firm he launched in 2011.
Arrington is not listed as a general partner on the firm’s third fund, which a regulatory filing shows is raising upwards of $30 million. Instead, the sole general partner is his CrunchFund co-founder Pat Gallagher, Arrington’s old college buddy who previously was an investor with VantagePoint Venture Partners.
In an interview with Coins2Day, Arrington says that he decided to take some time off from full-time investing in order to improve his health (“I don’t have cancer or anything, please don’t make it sound so serious”), but adds that he will continue to lead deals for CrunchFund and advise portfolio companies.
Recent CrunchFund deals Onfido, Kimono Labs and X.ai.
Arrington launched CrunchFund with the initial support of AOL, which had purchased TechCrunch one year earlier. But the decision quickly became controversial, and resulted in Arrington’s departure from the tech news site that he had originally began in his home.