Scott Stanford has spent the past year trying to chart a course forward for Sherpa Capital, the venture capital firm that was thrown into disarray when his co-founder, Shervin Pishevar, left after multiple allegations of sexual harassment (all of which he denied).

Axios has learned that Stanford has decided to form a new firm with Hany Nada, co-founder of GGV Capital.

Nada stepped down as a managing partner of GGV last May, after which he made a handful of seed investments and is said to have had numerous conversations about his next move.

  • He first got to know Stanford while serving on the board of GGV portfolio company Glu Mobile, when Stanford was a Goldman Sachs investment banker calling on the company.
  • Nada's other GGV deals included Glu, Athenahealth,, Turbine, DraftKings and Houzz.
  • A source familiar with the situation says their new firm will continue to manage out Sherpa's existing funds, with plans to raise its own vehicle next year focused on Series A and Series B investments. No official target yet, but prospective investors are being told "sub-$500 million."
  • Existing Sherpa staffers also will transition to the new firm, which will remain based in San Francisco.

Sherpa declined comment.

Go deeper

Updated 22 mins ago - Politics & Policy

Supreme Court denies Pennsylvania GOP request to limit mail-in voting

Protesters outside Supreme Court. Photo: Daniel Slim/AFP via Getty Images

The Supreme Court on Monday denied a request from Pennsylvania's Republican Party to shorten the deadlines for mail-in ballots in the state. Thanks to the court's 4-4 deadlock, ballots can be counted for several days after Election Day.

Why it matters: It's a major win for Democrats that could decide the fate of thousands of ballots in a crucial swing state that President Trump won in 2016. The court's decision may signal how it would deal with similar election-related litigation in other states.

Microphones will be muted during parts of Thursday's presidential debate

Photos: Jim Watson and Saul Loeb/AFP via Getty Images

The Commission on Presidential Debates adopted new rules on Monday to mute microphones to allow President Trump and Joe Biden two minutes of uninterrupted time per segment during Thursday night's debate, AP reports.

Why it matters: In the September debate, Trump interrupted Biden 71 times, compared with Biden's 22 interruptions of Trump.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Politics: Trump says if Biden's elected, "he'll listen to the scientists"Trump calls Fauci a "disaster" on campaign call.
  2. Health: Coronavirus hospitalizations are on the rise — 8 states set single-day coronavirus case records last week.
  3. States: Wisconsin judge reimposes capacity limit on indoor venues.
  4. Media: Trump attacks CNN as "dumb b*stards" for continuing to cover pandemic.
  5. Business: Consumer confidence surveys show Americans are getting nervousHow China's economy bounced back from coronavirus.
  6. Sports: We've entered the era of limited fan attendance.
  7. Education: Why education technology can’t save remote learning.