1.   Annex funds are unusual in the venture world, although both Accel and New Enterprise Associates each raised one last year.

2.   But competitors think Lee is going to have a harder time in the Internet venture world, where other big firms already have established Web investing reputations.

3.   Democrats are definitely a minority in the venture world.

4.   Dr. John Borzilleri is returning to mutual fund management after a very brief stint in the venture world.