Silicon Alley venture fund Flatiron Partners is retreating from Silicon Alley and giving up its offices.
The fund, which in five years bankrolled at least 57 dot-com gambles, confirmed yesterday that it’s moving out to save “millions of dollars a year” in rent on its offices in the landmarked Flatiron Building.
The Post first reported that Flatiron partners Jerry Colonna and Fred Wilson – facing meager returns on their $500 million war chest – might be forced to take refuge in the uptown offices of its main backer, J.P. Morgan Chase & Co. Returns have fallen to 279 percent from 400 percent a year ago, Flatiron said.