Wednesday, March 27, 2019

Lightspeed's Schaepe Out After He Is Tied To College Admissions Scandal

A venture capitalist at Lightspeed Venture Capital has parted ways with venture capitalist Chris Schaepe, after it was revealed today that Schaepe had hired Rick Singer, the college admissions "coach" who has been implicated in a widespread bribery-for-college admissions scandal. According to reports, Schaepe had paid Singer approximately $630,000 via donations to a so-called "nonprofit" controlled by Singer, in order to gain access for his son to the University of Texas, Austin. Schaepe has not yet been charged by the feds in the case, which has already ensnared a number of high profile celebrity, private equity, and other figures.