Social Capital to invest only internal capital, cease operations as venture firm

Chamath Palihapitiya, Social Capital, venture capital
Chamath Palihapitiya, founder and CEO of Social Capital, presents during the 2018 Sohn Investment Conference in New York on April 23, 2018. REUTERS/Brendan McDermid
Social Capital said it would cease operations as a venture firm, no longer accept capital from outside sources, and shrink by about 40 percent in size. The firm, plagued by a steady stream of departures in the past year, including ...

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