Federal Court Repeatedly Validates TSVC’s Claims Against Foothill Ventures, Rejects Attempts to Use Prior Arbitration to Avoid Liability for False Advertising
TSVC (formerly TEEC Angel Fund), a leading Silicon Valley venture capital firm, has secured a series of pivotal federal court victories in its ongoing false advertising lawsuit against Foothill Ventures. This lawsuit, an escalation of a dispute originating in April 2021 when current Foothill partners instigated a conflict over fund management by filing a lawsuit in Delaware Chancery Court (ultimately resulting in a private arbitration between individual partners), centers on allegations that Foothill—founded by former TSVC affiliates—has repeatedly misrepresented itself across the U.S. and China as a successor to the original TEEC Angel Fund. In doing so, Foothill has unlawfully claimed credit for TSVC's historic investment track record, including its highly publicized, exclusive seed-stage investment in Zoom and its premier seed-to-unicorn conversions.
TSVC Files Lawsuit Against Foothill Ventures for False Advertising and Brand Misrepresentation in the U.S. and China
TSVC (formerly known as TEEC Angel Fund), a leading Silicon Valley venture capital firm specializing in high-tech startup investments since 2010, has filed a lawsuit against Foothill Ventures for false advertising and unauthorized use of the “TEEC Angel Fund” trademark and brand, including its performance track record.
