Hosein Khajeh-Hosseiny tells Axios that he has stepped down as CEO and managing general partner of San Francisco's Northgate Capital.

Why it matters: Northgate is a major player in the venture capital and private equity firms, managing nearly $5 billion of direct investment and fund-of-funds assets.

His plan is to form a new tech consulting and early-stage investment firm called Open X Innovations.:

"Open X will have two purposes. The first is to partner with incumbent, global firms that need to effectively transition into smart companies. The other is to help entrepreneurs who have distinctive technologies enabled by AI and machine learning to solve for complexity and simplify a lot of the decisions they need to make on the way to IPO."

Khajeh-Hosseiny declined to identify his Open X partners, except to say that he has some. Initial investments will come from personal money.

Northgate has not yet named a replacement. CFO/COO Mo Virani says it is "in process."

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U.S. policy shift will allow taxpayer funding for projects in West Bank settlements

Friedman (L) with Netanyahu. Photo: Menahem Kahana/AFP via Getty Images

The U.S. and Israel will announce tomorrow that they are expanding three agreements on scientific cooperation to include Israeli settlements in the West Bank, Israeli and U.S. officials tell me.

Why it matters: This is a substantial policy shift for the U.S., which did not previously allow its taxpayers' money to be spent in the Israeli settlements.

Updated 2 hours ago - Politics & Policy

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Illustration: Sarah Grillo/Axios

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McConnell: Confirming Amy Coney Barrett will help GOP retain Senate

Photo: Samuel Corum/Getty Images

Senate Majority Leader Mitch McConnell (R-Ky.) expressed no regrets about Judge Amy Coney Barrett's controversial confirmation, telling Politico in an interview that he believes the decision to place her on the Supreme Court just a week before the election will help Republicans retain the Senate.

Why it matters: With a week to go until Election Day, many Republicans are concerned that President Trump's unpopularity could cost them the Senate. McConnell has long viewed the transformation of the federal judiciary through the confirmation of young conservative judges as his defining legacy.