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Exclusive: Ronny Conway leaves Andreessen Horowitz

September 26, 2013: 4:00 PM ET

ronnyHead of Andreessen Horowitz's seed program sets out on his own.

FORTUNE -- Ronny Conway is stepping down as a partner with venture capital firm Andreessen Horowitz, Fortune has learned. He is expected to begin raising his own venture capital fund, focused on early-stage tech investments.

Conway is the son of legendary Silicon Valley angel investor Ron Conway, and was the first outside employee hired by Andreessen Horowitz after raising its inaugural fund in 2009. He headed up the firm's seed-stage investing program, where he was credited with making the original introduction to Instagram -- a mobile photo-sharing app that later was acquired for $1 billion by Facebook (FB). Overall, Andreessen Horowitz has made around 160 seed investments, although the rapid pace has slowed a bit in recent months.

"We're thrilled for Ronny," said an Andreessen Horowitz spokeswoman. "He's really done a great job for us here."

Conway previously worked at Google (GOOG), which was where he first met Instagram co-founder Kevin Systrom. His original role was in business development, including on such projects as Gmail and Google Calendar. He later moved on to Google Ventures, where he worked as an associate on both fund formation and deal-sourcing.

Sources familiar with the situation say that Conway currently is working alone on the new platform, which is designed to help alleviate the "Series A crunch" for angel-backed companies. He had not yet formally begun fundraising, but expectations are that he'll be seeking at least $30 million. Unclear if he plans to target institutional investors, or instead focus mostly on Silicon Valley friends and family.

Conway declined to comment for this story, except to confirm that he is leaving Andreessen Horowitz.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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