Ex-Zenefits CEO David Sacks raising VC fund
Former Yammer and Zenefits CEO David Sacks appears to be raising a venture capital fund, according to an SEC filing.
Why it matters: Sacks created one tech unicorn in Yammer, which was sold to Microsoft for $1.2 billion. He then took over another, Zenefits, amid scandal, and appears to have helped right the ship a bit before stepping down at the end of 2016. He also is part of the fabled PayPal Mafia and co-authored Peter Thiel's controversial book The Diversity Myth.
Light on details: No target amount or strategy is listed for the effort, which is called Sacks Ventures. He declined comment via email.
Preview: Sacks earlier this year briefly changed part of his Twitter bio to read "unemployed VR enthusiast," which he said at the time was just a joke. He also seems to have become increasingly interested in cryptocurrencies.