David Lee steps down as managing partner at SV Angel

His role will be filled by Topher Conway, who will co-manage along with his father Ron

There was some big news in the venture capital world on Tuesday, as David Lee, managing partner at SV Angel, and one of the better known investors, revealed that he has decided to step down from his post, effective immediately. 

The announcement was made in a series of tweets on Lee's Twitter account, in which he made it clear that at least part of this decision had to do with him getting to spend more time with his famiy going forward.

1/ After a great run at @svangel, I'm moving on to life's next chapter.

— David Lee (@davidlee) May 20, 2015

2/ Looking forward to spending more time with @gracelee and our little ones here in LA

— David Lee (@davidlee) May 20, 2015

3/ Special thanks to @RonConway and the @svangel team - look forward to seeing their continued success!!

— David Lee (@davidlee) May 20, 2015

The news was also revealed in an e-mail from Lee, along with his colleague, and SV Angels founder, Ron Conway, to employees at the firm, including all Partners. That e-mail has since been obtained by Re/Code.

In it, Lee, once again, stressed that he was making this decision in order to "spend more time with his wife, children, and extended family in Los Angeles."

In Lee's place, Topher Conway will become co-managing partner, along with his father. Topher Conway was recently named by Forbes as one of the 30 under 30 to watch. Prior to coming to work at SV Angel, the younger Conway worked in the Business Development and Sales team at EQAL.

Lee has worked at SV Angel since 2007. Prior to that, he worked at seed-stage venture firm Baseline Ventures. He was previouslyHead of Business Development at StumbleUpon and, before that, spent four years at Google, first as Corporate Councel and then as a Principal. He was a founding member of Google’s New Business Development team.

"SV Angel will continue to cultivate the best and the brightest founders in tech and add value to their companies as we have been doing for more than 20 years. Our fund portfolios continue to remain very strong and we are optimistic about the companies in which we have invested and the prospective companies we are seeing daily," it said in the e-mail.

"SV Angel is the preeminent angel fund because entrepreneurs have always been and will always be family. While we can all share in many historic successes and wish David well, the best is yet ahead."

The San Francisco-based SV Angel has invested in some of Silicon Valley's biggest tech companies, including Pinterest, Airbnb, Stripe, Hipmunk, Snapchat and Foursquare. 

Some of its more recent investments made in the last few months include Silversheet, a medical credentials verification platform; shipping startup ShipBob; Campus Job, an online marketplace for college students to find part-time jobs and internships; Vidme, a video sharing application; Highfive, a provider of video conferencing device and cloud software for businesses; Clearbit, a provider of business intelligence APIs; and dining app Reserve.

VatorNews has reached out to Lee for further information about his decision to step down, and we will update this story if we learn more. 

(Image source: startupgrind.com)