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Exclusive: North Bridge Ventures loses two partners

October 24, 2013: 11:55 AM ET

NorthBridgeChanges at North Bridge Venture Partners, as firm contemplates next early-stage fund.

FORTUNE -- Bill Geary and  Basil Horangic are no longer partners with North Bridge Venture Partners, Fortune has learned.

The moves come as North Bridge gets ready to begin marketing its eighth early-stage fund, which follows a $529 million seventh vehicle closed in the summer of 2008. Word is that the firm had been planning to target $500 million this time around, but that some LPs are suggesting the figure should be lower. North Bridge also announced this week that had raised $580 million for its second growth equity fund.

Massachusetts-based Geary has been with North Bridge since the firm was founded in 1994, with a focus on healthcare investments. His portfolio companies included The Active Network (ACTV), Connance, SynapDx and Valence Health.

Horangic joined North Bridge in 2007 after a 12-year run with Austin Ventures, in order to help open a Silicon Valley office. He focused on a wide range of technology sectors, leading such deals as Black Sand Technologies, Cool Planet BioFuels and Revolution Analytics.

No word yet on future plans for either Geary or Horangic, and neither of them responded to a request for comment (I'm hearing some rumors, but nothing confirmed yet). Also silent so far is firm founder Ed Anderson.

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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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