FAR REACHING

Top Silicon Valley Venture Capitalist Out Over Ties to College Admissions Scandal

After he reportedly told partners that William “Rick” Singer helped get his son into college.

A Silicon Valley venture-capital firm severed ties with its founder after he reportedly told partners that William “Rick” Singer—the mastermind behind the college-admissions scandal—helped get his son into college, the Los Angeles Times reports. Lightspeed Venture Partners co-founder Chris Schaepe said he had hired Singer but did not knowingly participate in any bribery schemes. He has not been charged in the federal investigation, and his spokesperson, Ellen Davis, said the venture capitalist did nothing illegal. “The Schaepes were deeply disturbed that the person they had trusted to guide them through the college-application process was engaged in inappropriate acts,” Davis said. “Like countless other families, they believed that his services and his foundation were all aboveboard, and were shocked by his deception.” Lightspeed pushed Schaepe out after he told partners of a “personal matter” that partners worried could “interfere with firm operations,” a spokeswoman for the firm said.

IT KEEPS COMING

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