Fika Ventures co-founder Eva Ho will step back from the firm after its current fund is deployed

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

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

“Eva is stepping back for personal reasons. She trusts the existing team to take it forward,” a fund spokesperson told TechCrunch.

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

Ho will maintain control over her existing investments and board seats and will remain active at the firm while it deploys the rest of Fund III, which still has capital left to invest.

Ho sits on more than four startup boards, including Backbone AI, a startup focused on data synchronization; Elementary, a humanoid robotics company; FairClaims, a legal tech startup focused on disputes; and Upwards, an affordable childcare platform. During her time at Fika, the firm raised more than $300 million across three flagships funds and one opportunity fund.

Prior to Fika, Ho was founding general partner at seed-focused Susa Ventures. She was at the firm from 2013 through 2017 and helped invest Susa’s first two funds, which raised a collective $75 million.

Ho also sits on the boards of several nonprofits, including Common Crawl, an organization focused on keeping web crawl data public, and California Community Foundation, which gives grants to local organizations in Los Angeles.

Ho joins an increasingly growing list of venture capitalists who are leaving their current firms through planned and unplanned exits this year. So far in 2024, TechCrunch has counted more than 11 moves in VC, the majority of which were at the partner or general partner level.