Phase4 Spins Out Of Nomura To Focus On Europe

When the management team at Phase4 Ventures in February 2011 spun the venture capital business out of parent Nomura, the move highlighted two important features of the VC landscape. The first is continued investor interest in Europe, which will replace the US as Phase4's primary geographic focus, and the second is the growing, and increasingly creative, role for large secondary players in the still-vulnerable VC sector.