Michael Brader-Araje is shutting down TruePilot, the venture capital company he launched after selling OpenSite Technologies fore more than $500 million in 2000.

Brader-Araje told The News & Observer in a story published Friday that the venture firm has not produced the returns he expected. He also wants to focus on philanthropy, including DonorsChoose NC and Michael and Laura Brader-Araje Foundation.