Most of the refugees from Mobius — the venture capital firm which is winding down after making a loss on its $1.25bn bubble-era fund — have found new homes. Rainmaker Gary Rieschel, the managing partner who raised funds for the tech investment firm, has gone off to Shanghai to run Ignition Partners' China fund. (He's a Mandarin speaker, and his wife is Chinese.) Brad Feld — who took Mobius into one of its more promising portfolio companies, Feedburner — is raising a new fund for the Foundry Group in Colorado. But what about Heidi Roizen, former founder of T/Maker, a productivity software maker, a Silicon Valley fixture, and one of the very few women in venture capital? One face-saving exit route for her — to the job of chair of the NVCA, the venture capital industry association — was closed off last week. And, as an investor, rather than a public figure, it's hard to work out which of Roizen's companies — AuctionDrop, Ecast, Perpetual Entertainment or Reactrix — will make her reputation.