Industry Moves: Investor Quietly Leaves The Board

Jay Hoag, the long-time general partner of PE/VC firm Technology Crossover Ventures, has quit the board of (NSDQ: TSCM), according to an SEC filing from earlier this month, picked up this week by by PEHub. A year ago TCV invested $55 million in TSCM in exchange for a minority stake in the 10-year-old online financial media company. No replacement for Hoag have been named yet, and no specific reasons were given for his departure, though it is surprising considering TCV is still invested in the company.