Description
Social Capital is a venture capital firm based in Palo Alto, California. The firm specializes in technology startups, providing seed funding, venture capital, and private equity.
The firm has "stood out strategically", according to Fortune, "with a focus on ... healthcare, financial services and education ... when those fields were ... neglected by the VC community."
History
Social Capital was founded in 2011 by Chamath Palihapitiya, who had previously worked at Facebook. Mamoon Hamid and Ted Maidenberg also joined the firm that year as General Partners.
In January 2015, Fortune reported that Kleiner Perkins was in acquisition talks with Social Capital, but the acquisition reportedly fell through. In May 2015, Social Capital raised $600 million in their third and largest venture capital fund. PayPal cofounder Peter Thiel praised Palihapitiya's approach, and as of 2015 served as a limited partner.
In 2017, Marc Mezvinsky joined Social Capital as vice chairman as it sought to expand beyond traditional venture capital.
In August 2017, Hamid left Social Capital to join Kleiner Perkins as a general partner and managing member.
In spring of 2018, Mezvinsky departed Social Capital. Later in 2018, then-partners Arjun Sethi, Jonathan Hsu, and Ted Maidenberg left the firm to co-found Tribe Capital.
