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Social Capital shakeup: VC firm removes team page from its website



social capital team page
screenshot of Social Capital’s website on August 1,

Archive WayWayBack Machine; Social Capital; and Melia
Robinson/Business Insider

  • Venture capital firm Social Capital seems to be
    unraveling following a tumultuous first half of 2018.
  • Seven partners, including one of the firm’s cofounders,
    left the firm founded by early Facebook executive Chamath
  • The latest defectors are VC partner Mike Ghaffary and
    vice president of marketing Ashley Mayer.


Social Capital, one of the most closely-watched venture firms in
Silicon Valley, has vaporized the “team” page from its website,
following a tumultuous first half of 2018.

The tech investing firm seems to be unraveling amid a wave of
departures. The latest defectors are investment partner Mike
Ghaffary and Ashley Mayer, social media darling and Social
Capital’s vice president of marketing.

“It’s never a good sign when a VC firm deletes the ‘team’ page
from its website,” Axio’s business editor
Dan Primack first reported
on Friday. “But that’s what
recently happened at Social Capital, which is hemorrhaging more

The departures represent another blow to Social Capital, which
was founded by
early Facebook executive Chamath Palihapitiya
, whose tech
pedigree and iconoclastic
pronouncements about investing
made Social Capital one of the
most buzzworthy venture firms in the industry.

chamath palihapitiya 2


But after Palihapitiya made
a series of abrupt and jarring changes
in strategy,
top investment partners have been jumping ship
. And for some,
the landing spot looks very familiar.

Three partners — Arjun Sethi, Jonathan Hsu, and Ted Maidenberg —
joined forces to launch a fund of their own, called
Tribe Capital
. Its vague focus is internet and software
companies, though the firm just cut its first investment check to
cryptocurrency-related startup

“It’s like Social Capital, but without Chamath,” one source
recently told Business Insider about the new firm being launched
by Sethi.

Here are all the partners who have left Social Capital so far
this year, listed in order of their departure:

  • Tony Bates, CEO of Social Capital Growth
  • Marc Mezvinsky, vice chairman
  • Arjun
    , partner (now: cofounder and general partner
    at Tribe Capital)
  • Jonathan
    , partner and senior vice president of
    quantitative investing and data science (now: cofounder and
    general partner at Tribe Capital)
  • Ted
    , founding partner (now: cofounder and
    general partner at Tribe Capital)
  • Ashley
    , partner and vice president of marketing
  • Mike
    , partner

It’s not immediately clear where Mayer and Ghaffary are headed,
though a source with direct knowledge told Business Insider,
Ghaffary is not joining Tribe Capital.

Mayer and Ghaffary shared these updates on Twitter:

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