Chamath Palihapitiya's venture capital group Social Capital has fired its two most senior partners and hired a law firm to investigate undisclosed “circumstances” related to its investment in artificial intelligence chip startup Groq.
Social Capital said in a letter to investors this week that it had fired Jay Zaveri, head of early-stage and venture capital, who had been a partner since 2015, and Ravi Tanuku, head of public markets and M&A since 2020.
The letter, seen by the Financial Times, said Social Capital had hired law firm Wachtell, Lipton, Rosen & Katz to investigate the “circumstances” it became aware of last Tuesday. It provided no further information.
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