Eva Ho, co-founder of Fika Ventures, will step down from the company after the deployment of its current fund

Eva Ho plans to leave her position as general partner at Fika Ventures, the Los Angeles-based seed company she co-founded in 2016.

Fika informed LPs of Ho’s intention to withdraw from Fund III, the firm’s current fund, in an email, according to several sources familiar with the matter. Fika confirmed the transition to TechCrunch earlier this week and published a blog post mentioning the transition this morning. Fika’s other founding general partner, TX Zhuo, will remain with the fund.

“Eva is withdrawing for personal reasons. She trusts the existing team to get things done,” a fund spokesperson told TechCrunch.

Ho is known in Silicon Valley circles as one of the founding venture capitalists of All Raise, a network of female investors that aims to improve deal flow for women as well as access to capital for female and underrepresented founders.

Ho will retain control of her existing investments and board seats and remain active in the company while it deploys the remainder of Fund III, which still has capital to invest.

Ho serves on four startup boards, including: BackboneAI, a startup focused on data synchronization; Elementary, a humanoid robotics company; FairClaims, a legal technology startup focused on litigation; and Upwards, an affordable childcare platform. During his tenure at Fika, the firm has raised more than $300 million through three flagship funds and one opportunity fund.

Prior to Fika, Ho was a founding partner and founder of Susa Ventures, a seed company. She worked at the company from 2013 to 2017 and helped invest Susa’s first two funds, which collectively raised $75 million.

Ho also serves on the boards of several nonprofit organizations, including the Common Crawl Foundation, which focuses on keeping web crawling data public, and the California Community Foundation, which provides grants to local organizations from Los Angeles.

Ho joins a growing list of venture capitalists exiting their current companies through planned and unplanned exits this year. So far in 2024, TechCrunch has counted more than 11 venture capital moves, the majority of which were at the partner or general partner level.