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Ousted SoFi CEO is back with a new startup

Former SoFi CEO Mike Cagney. Photo: Rob Lever/Getty

Mike Cagney, the recently ousted CEO of SoFi, is seeking up to $25 million for a new fintech startup focused on home equity lines of credit, according to Recode. His co-founder is wife June Ou, SoFi's former CTO.

Why it matters: If 2017 was the year in which VCs began to fire controversial execs, 2018 may be the year in which they're forced to decide on quick-turn second acts.