Venture Capital: Powerful trio puts hedge fund together

Three movers and shakers from Seattle’s business community are coming together to form a new hedge fund called L1.

The partners in the fund, which is in the early stages of formation, are Zillow.com Chief Executive Rich Barton, Second Avenue Partners co-founder Nick Hanauer and Delafield Hambrecht Chief Executive J.D. Delafield.

In a talk Thursday at the Northwest Entrepreneur Network’s “Entrepreneur University,” Hanauer let it slip that the fund was in development.

“I am starting — gasp — a hedge fund,” he said. Hanauer added that he has lined up two “extremely smart mathematicians” to help manage the fund.

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