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Refactor's David Lee Becomes Chairman: Term Sheet For Thursday, May 2

by fortune.com posted 3weeks ago 19 views
On deals and dealmakers. : Refactor Capital is ready for round two. The early-stage venture capital firm is raising $30 million for its second fund, according to an SEC filing. The fund will continue to focus on deals in the biology and health space and cut checks of an average size of $1 million. But there was one big, noticeable thing missing from the filing — Refactor co-founder David Lee’s name. Term Sheet has learned that Lee is not staying on for Refactor’s second fund. He will take a chairman role and hand the reins over to his partner Zal Bilimoria.

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