Howard Morgan Steps Down At First Round Capital, Back To Angel Investing

Howard Morgan, the venture capitalist who helped found Pasadena-based Idealab back in 1996, and has since been Founding Partner at seed stage investment fund First Round Capital, is returning to angel investing and will not participate in First Round Capital's new fund. According to First Round Capital, the move will become official at the end of the year. First Round Capital just filed paperwork on a new, $175M fund. Morgan has been a regular in Southern California's high tech startup market--spending a significant amount of time at local startup pitch events and venture conferences--and was one of Idealab's very first investors in 1996.