Prominent VC Is Ousted From His Firm as College Scandal Spreads
- Lightspeed’s Chris Schaepe leaves the firm he co-founded
- Schaepe is the latest to tumble following FBI sting of Singer
Photographer: Greg Stohr/Bloomberg
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Chris Schaepe, co-founder of top Silicon Valley venture capital firm Lightspeed, left his post after acknowledging he hired the man at the center of the admissions scandal still roiling the world of higher education.
The U.S. charged dozens of parents this month after Rick Singer, a college admissions coach accused of leading the scam, cooperated with federal agents on a sting that led to arrests of wealthy and powerful figures and tainted some of the nation’s most elite schools.