Peter Boyce II has left General Catalyst to start his own firm, a little over a year after the venture capital firm promoted him to partner. His new firm is called Stellation Capital, and filings indicate that he is looking to raise up to $40 million for the debut investment vehicle. Sources say that most, if perhaps not all, of that total has been closed since the initial SEC filing in April.
Boyce declined to comment for this story. It’s been a quiet transition for the investor; his LinkedIn and Twitter have not been updated to indicate his new job title, but his personal website indicates the new gig. For an investor to leave a prominent venture capital firm after an eight-year tenure to raise dozens of millions of his own — and somehow do so quietly and with minimal coverage — might be a result of the funding frenzy and consequential numbness to yet another filing.
Boyce joined GC in 2013 and led investments in Ro, Macro, towerIQ and Atom. He’s also supported portfolio companies such as Giphy, Jet.com and Circle. Beyond GC, Boyce has experience co-founding and running Rough Draft Ventures, a program that helps incubate startups founded by students and recent graduates, as well as promote entrepreneurship on campuses.
Stellation Capital will leverage his work and name into early-stage investments. The name of the firm, per its website, is derived from the Latin root of stella, which means star. The name also describes “the process of extending a polygon in new dimensions to form a new shape … just like we’re extending the potential of a founder into new possibilities.”
It’s unclear what the firm’s check size and cadence will be, but it did say it wants to back successful companies at “their earliest stages” on the website.