Most recently, Sathaye was a general partner at Formation 8, the embattled venture firm co-founded by Palantir’s Joe Lonsdale, Brian Koo( a scion of the Koo family, owneds of the electronics giant LG) and former Khosla GP Jim Kim. Formation 8 announced in 2015 that it would not create a third money and would begin winding down operations .
Sathaye, who’s been in the VC business since 2001 as a GP at Matrix Partners, then at Khosla Ventures, remains a partner in Formation 8′ s sophomore fund. His previous investments include Nutanix, Samsung-acquired Grandis, McAfee-acquired Solidcore System, cybersecurity startup Vectra Networks and data storage provider Panzura.
He’d merely been at Formation 8 for one year when the firm began to crumble. As we have known, conflict between the firm’s founding partners led to its demise. Lonsdale speedily created $425 million for a spin-off money called 8VC ;~ ATAGEND Koo, in a similar fashion, brought in $357 million for Formation Groupand Kim followed up with a $200 million fund called Builders.
Sathaye, for his part, had grown tired of the” bigger is better” mentality and opted to leave the business of big VC for good.