Uber investor exits Sherpa Capital amid sexual misconduct claims

Silicon Valley investor Shervin Pishevar, known for his early bet on Uber Technologies Inc, said on Thursday that he would sever ties with his venture capital company, Sherpa Capital, after being accused of sexual misconduct.

Pishevar, who has denied the accusations, said in a statement provided by his lawyer that he was voluntarily leaving Sherpa Capital, which he co-founded, because of ongoing "untruthful attacks" against him.

Bloomberg reported in November that five women accused Pishevar of exploiting a professional connection or the prospect of a job, mentorship or investment to make unwanted sexual advances.

Reuters was unable to independently confirm the accusations.

"I refuse to allow my enemies to drag my Sherpa family into their fight with me," Pishevar said in the statement. "That is why I have decided on my own accord to end my association with Sherpa Capital, effective immediately."

In a statement, Sherpa Capital thanked Pishevar for his contributions to the firm and said it was "deeply committed to our culture of integrity, inclusion, and respect."
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Uber investor gave Travis Kalanick a month before filing lawsuit

Venture capital firm Benchmark Capital said on Monday it gave Uber and its ousted chief executive, Travis Kalanick, a month to review its recommendations before filing a lawsuit last week to force him off the board and rescind his ability to fill three seats.

The lawsuit, filed last Thursday, also accused Kalanick of concealing a range of misdeeds from the board and scheming to retain power at Uber Technologies Inc even after he was forced to resign as CEO in late June.

"We know that many of you are asking why Benchmark filed a lawsuit against Travis last week. Perhaps the better question is why we didn't act sooner," Benchmark said in a letter to Uber employees on Monday. (http://bit.ly/2fFWmwK)

Kalanick was still involved in the day-to-day operations at Uber, which has created a sense of uncertainty and undermined the search for his replacement, Benchmark Capital said.

"Indeed, it has appeared at times as if the search was being manipulated to deter candidates and create a power vacuum in which Travis could return," Benchmark said in the letter.
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