Venture capitalist leaving his VC firm amid misconduct allegations
MENLO PARK » Steve Jurvetson, a wellknown Bay Area venture capitalist, is leaving the firm he founded amid an investigation into misconduct allegations.
Jurvetson said in an e-mail to this news organization on Monday that he was leaving Draper Fisher Jurvetson “to focus on personal matters, including taking legal action against those whose false statements have defamed me.”
He did not immediately respond when asked to share more details about the allegations.
DFJ’s spokeswoman Carol Wentworth also confirmed the venture capitalist’s
departure in a statement sent to this news organization.
“As of today and by mutual agreement, Steve Jurvetson will be leaving DFJ,” the statement said. “DFJ’s culture has been, and will continue to be, built on the values of respect and integrity in all of our interactions. We are focused on the success of our portfolio companies, as well as the long-term vision for the firm, and will continue to operate with the highest professional standards.”
Jurvetson sits on the boards of Tesla and SpaceX. But Tesla said in a statement Monday that “Jurvetson is on a leave of absence from the SpaceX and Tesla boards pending resolution of these allegations.”
In October, DFJ said it was investigating “indirect and second-hand allegations” about Jurvetson that it became aware of early in the summer.
DFJ, though, did not say what these allegations were. Wentworth also did not immediately respond to questions Monday about the status of the investigation.
Jurvetson founded DFJ in 1985 with Tim Draper and John Fisher. He was an early investor in Hotmail, which Microsoft later acquired.