Mamoon Hamid, a longtime partner at U.S. Venture Partners and cofounder of Social Capital along with Chamath Palihapitiya in 2011, has moved to Kleiner Perkins Caufield & Byers.
Hamid will focus on early-stage tech investments with a focus on enterprise software. Reported by Axios and confirmed by Social Capital. Palihapitiya calls it “a great opportunity for Mamoon” and says that “we’re happy for him and Kleiner Perkins.”
The move is quite interesting considering Hamid isn’t simply a managing director with Social Capital. It’s also rare that a venture firm co-founder breaks off to join someone else’s venture firm.
Kleiner Perkins is managed by Ted Schlein who joined the company nearly 21 years ago, following a decade at Symantec where he was a vice president. Other than one other member, Schlein is the most senior member of the firm.
Kleiner has had a number of people to exit in succession, following the scandal that ensued when former investor Ellen Pao unsuccessfully sued the firm for gender discrimination.
Hamid’s first order of business will likely be recruiting and figuring out how to get and keep young talent along with developing the firm’s people management strategy. Kleiner’s future appears to depend on it more than ever.
Meanwhile, at Social Capital, Palihapitiya notes that while Hamid is leaving, the firm has brought on a number of investors including Marc Mezvinsky, Tony Bates, and Phil Deutch. He says the company is pushing even harder to “manage our values, constantly improve our performance, and continue to bring in the best, credentialed talent possible.”