A new $10 million micro-venture fund led by former Yahoo top engineering exec Ash Patel--called Morado Ventures and funded by a group largely made up of ex-Yahoos--is about to launch, according to sources close to the situation.
Expected limited partners in Morado, which means "purple" in Spanish, include former Yahoo CEO Terry Semel, former COO Dan Rosensweig, and former advertising sales head Greg Coleman. Ex-Yahoo President Sue Decker is also considering investing, said sources.
Purple, of course, is Yahoo's color.
Interestingly enough, the fund--which has not officially closed yet--is also likely to include Yahoo's two founders … Read more