WRAL Tech Wire

The Aurora Funds isn’t in ‘shutdown mode,’ co-founder says

Venture capital firm Aurora Funds has gone into what the Triangle Business Journal described Friday as “maintenance mode.”

“We have money available in our fifth fund to make new investments, but with the economy the way it is, we are being very selective,” firm co-founder Scott Albert told the newspaper.

Venture partner Grant Jackson recently left to join Council Ventures in Tennessee.

Aurora has made staff cutbacks as well, according to the Journal.

“We are not in shutdown mode,” Albert said. “We are maintaining our current companies but not making any new investments in the near term … although later in the year, we may look at some new investments.”

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