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Even as [Paul Lisiak] and his five-person team seek new quarters, he's looking ahead to a new fund. MetVP, whose latest announced backing went to New York mobile equipment maker Salsa Systems Inc., raised a $10 million seed fund in 2000 and recently held a first close on its way to a $50 million fund, Lisiak said.
He's appreciative to be alive. Nonetheless, New York venture capitalist Paul Lisiak now has no office, and has been leaning heavily on a Long Island bed and breakfast, coffee shops, intermittent cellular phone service and a temporary e-mail address to conduct business.
Until Tuesday, Metropolitan Venture Partners, where Lisiak is a managing director, was based at Two World Financial Center, across from the former World Trade Center. On Thursday, Two World's facade collapsed, sending firefighters, police, construction workers and other rescue workers running frantically for cover.
"Since the collapse, we have not been able to return to our offices," he said. "They cut all the power, the sprinkler system was turned on and all the windows were blown out. In fact, our office manager tells me that we may not be able to return for three to six months, or possibly never."
MetVP, as it's known, continues to operate its London office.
Even as Lisiak and his five-person team seek new quarters, he's looking ahead to a new fund. MetVP, whose latest announced backing went to New York mobile equipment maker Salsa Systems Inc., raised a $10 million seed fund in 2000 and recently held a first close on its way to a $50 million fund, Lisiak said.
MetVP is backed by the Man Group plc, a London-based financial services company with more than $6 billion under management.
As for offices, Lisiak was heartened by offers from fellow unnamed VCs to provide temporary space even as he explores permanent headquarters.
"It is almost the nature of VCs to persevere through difficult times," he said. "We have all been through tough times before with our portfolio companies and so we look forward to rebuilding our physical office.
"If the New York community looks to have a slowdown in terms of numbers of businesses started and fundings, we will continue to focus on exploiting our position in the U.K."
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Copyright The Deal LLC Sep 14, 2001