Boston VC leader Testa Hurwitz & Thibeault is to close its doors by mid-March – laying off around 550 staff – following last week’s dramatic dissolution vote.

The partner vote, held on Friday (14 January), agreed to terminate the 32-year-old practice, one of the East Coast’s best-known venture capital and technology specialists, handing 200 associates and 320 support staff 60-day termination of contract notices.