Jan 26, 2024 - Business

Scoop: Chamath Palihapitiya is no longer raising a VC fund

Kia Kokalitcheva

Illustration of Benjamin Franklin exiting the frame of the one hundred dollar bill. — Illustration: Maura Losch/Axios

Venture capitalist and podcaster Chamath Palihapitiya has pulled the plug on plans to raise $1 billion for an early-stage investment fund, Axios has learned.

Why it matters: This would have marked Palihapitiya's return to managing outside capital, years after effectively turning his firm, Social Capital, into a family office.

Social Capital last summer reportedly sought to sell a large number of its investment holdings.

Between the lines: Palihapitiya's about-face stems from both fundraising challenges and how the process served as a reminder of the difficulties inherent in managing other people's money.

He continues to invest via his own balance sheet.
In response to a request for comment, Palihapitiya channeled Elon Musk by sending a poop emoji.

Go deeper: Axios BFD conversation with Palihapitiya

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Scoop: Chamath Palihapitiya is no longer raising a VC fund

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