Victoria’s GenoLogics, a developer of software for biologists and physicians, has raised $1 Million of equity financing out of a round that could be worth $1.5 million. This is in addition to GenoLogics’ previous efforts, which raised $5 Million in February 2009 from OVP Venture Partners, Yaletown Venture Partners, and GrowthWorks Capital.
Interestingly, during our research for GenoLogics, we stumbled upon a small change in funder Yaletown Venture Partners’ website. It appears that co-founder Steve Hnatiuk may be out of the picture – quite literally. See below.
Now you see him…
Now you don’t.
No, this isn’t a “Where’s Waldo?” situation. He’s definitely not there, red-and-white striped shirt with goofy cap or otherwise.
Does this mean he’s no longer with Yaletown Venture Partners? Well, we venture to guess that no, he probably isn’t – at least not fully. But it also isn’t probable that he was eliminated a la Tyra Banks’ TV-hit Next Top Model (“I’m sorry, Steve, but you’re no longer in the running to be Yaletown’s next top General Partner.”). His tweaked profile on Yaletown’s website now describes him as “active as an investing partner at Yaletown until 2010.” And he is now listed as an Executive Limited Partner (the only person under this category), no longer under the General Partners category with his friends in photo, Mike Satterfield, Hans Knapp, and Kirk Washington.
All that is completely clear right now is that he’s been effectively photoshopped from the website’s head banner. That, or the remaining three struck remarkably identical poses, and just shifted closer together in the exact same room, at the exact same angle, for a nice little re-shoot. Or maybe the photo is a live webcam, and he just left the room for a while. Our formal guess is the first scenario. But either way, his role in the company is obviously not as predominant as it once was, which suggests he’s investing more of his time (and money) elsewhere.