According to "Bizjounals.com", Venture capitalist James Trainor is no longer managing First Niagara Capital Corp.’s $5 million venture fund.
Trainor sent a letter announcing his departure to the heads of 11 companies that First Niagara has invested in. He is now starting the process of forming his own venture fund.
"That’s my game plan," said Trainor, 48. "I’m rounding up investors, structuring the fund. I always thought it was a natural progression for me."
First Niagara will no longer have a local person to oversee its venture investments. It will run the fund from its headquarters in Lockport, Niagara County, said Michael Harrington, First Niagara Bank’s senior vice president and treasurer.
Trainor did most of his deals when the venture fund was known as TS Capital, before Troy Savings Bank was acquired by First Niagara in 2004.
Source: http://www.bizjournals.com/industries/banking_financial_services/venture_capital/2006/01/23/albany_story5.html
