Chris Young, who inked Microsoft’s strategic deals with OpenAI and Activision Blizzard, has resigned after four years, the company announced Wednesday.
Young, who took over as the head of Microsoft’s venture arm M12 in 2020 from its founder Peggy Johnson, oversaw several major strategic partnerships as its business development chief. During his tenure, Microsoft closed a $69 billion acquisition of Activision Blizzard, a $10 billion partnership with OpenAI and a $650 million cash deal with Inflection AI.
A 2023 Microsoft proxy statement credited Young with increasing M12’s engagements with early-stage companies. While he wasn’t directly writing checks to early-stage companies or sitting on startup boards, he drove more investments into companies with strategic potential for Microsoft.
Under Young’s tenure, M12 increased its venture deal activity, investing in a number of growth-stage cybersecurity startups like At-Bay, Aqua Security and Contrast Security at valuations above $1 billion, according to PitchBook data.
However, M12 also lost four managing directors between 2022 and 2023. The firm also faced internal pushback after altering its carried interest compensation structure, Business Insider reported at the time.
Young has not publicly shared his next move. “My entrepreneurial roots are calling me,” he wrote in a post announcing his decision.
Prior to joining Microsoft, Young was CEO at online security company McAfee.
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