The Oregonian’s Mike Rogoway says Venture Capital firm Sevin Rosen remains “very keen” on MetroFi and intends to continue supporting the company.
I blogged twice earlier this week (here and here) about Sevin Rosen’s decision to scrap its latest fund, a move attributed to poor returns in the broader VC world. The move appeared to be a vote of no confidence in wireless startups, a sector Sevin Rosen had actively supported. The firms it backs include MetroFi, which has just begun building Portland’s Wi-Fi network.
While Sevin Rosen does have doubts about the general startup scene, Kimzey said the firm remains committed to MetroFi.
“I think it’s going to be a very good business based on the results we’ve seen in California,” Kimzey said. (MetroFi has already built free Wi-Fi networks in several NorCal cities; I tested them last spring.)
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