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Venturecapitalfirm topull plug

Sep 22, 2018 - The San Francisco Chronicle

What was once one of the hottest venture capital firms in Silicon Valley is closing up shop.

Chamath Palihapitiya, an early Facebook executive and a part owner of the Golden State Warriors, announced his firm, Social Capital, will no longer accept outside funds for investing in startups.

For venture capital firms that routinely raise new funds from pension funds and wealthy individuals, not taking new money is tantamount to a death knell.

Palihapitiya doesn't see it that way. I...