Hansjee-Clegg fund fails to materialise

Plans for a hotly anticipated venture fund, to be co-managed by Google’s former European head of corporate development Anil Hansjee and transatlantic uber-connector Judith Clegg, have fallen apart, The Kernel has learned.

London’s tech investor circles were ablaze with speculation yesterday that Glasshouse and Takeout founder Judith Clegg had dramatically parted ways with her business partner Anil Hansjee, Google’s former head of corporate development for EMEA.

Speaking from New York late last night, Ms Clegg confirmed to The Kernel that the venture capital fund she had originally planned to launch with Mr Hansjee, who enjoys a controversial reputation in the European investor community, will indeed no longer be pursued in its current form.

“The team greatly enjoyed exploring the option of building a venture capital firm together,” Ms Clegg told The Kernel, “but we have decided that our approaches and outlook are different, so it makes sense for us to pursue separate ventures.”

“It has been a pleasure getting to know Anil and I wish him all the best for the future,” she added.

At least one other member of the firm’s founding team, who declined to be named, is understood to have distanced himself from the project earlier this year, citing similar differences in outlook between himself and Mr Hansjee.

Once referred to as a “transatlantic business development goddess” by the Telegraph, Judith Clegg is a well-known entrepreneur who founded the Glasshouse networking group in 1998.

The Glasshouse now exists in London and New York and Clegg’s firm Takeout regularly advises high-profile international corporates on partnering with and acquiring fast-growth digital businesses.

The Kernel understands that Ms Clegg and other colleagues from the fund may still investigate launching an investment firm “with a different formulation”.

Mr Hansjee said today: “I very much enjoyed working with Judith and think the combination of her entrepreneurial operational experience and my investing and M&A and corporate experience was and still is a good combination.”