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ISSUE – Jun. 20 | Three Partners Leave Venture Firm Social Capital Amid Strategy Changes

What’s going on at venture firm Social Capital is less of a shake-up and more of an upheaval. We first learned that Arjun Sethi, a partner at the firm, would depart. And then Axios reported growth equity chief Tony Bates and vice chairman Marc Mezvinsky were also leaving.

It’s unclear what Bates and Mezvinsky will do next, but sources tell me that Sethi will raise a new early-stage fund with a likely focus on cryptocurrency and blockchain investments. This wouldn’t be all that surprising given Sethi’s track record of investing in crypto-focused companies such as SafeChain, {Set} Protocol, and SFOX. [ Fortune ]

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