Marc Mezvinsky, whose children’s grandparents have won the popular vote in U.S. presidential elections three times, is something of a Wall Street seeker. Like many sons of two congresspeople who major in religious studies and philosophy at Stanford, he tried the banking thing out for a while. But eight years at Goldman Sachs has a way of wearing on a guy, and so he decided to give the private equity thing a try. After marrying the daughter of a former president and then-current Secretary of State and future president, however, Mezvinsky decided to strike out on his own in yet another new field, hedge funds. That didn’t take, either, mostly because he and his partners lost most of their investors’ money, and that West Wing office he had his eye on went to Jared Kushner. So after a few months on the couch with the kids, Mezvinsky chose to reinvent himself one more as a venture capitalist, joining Social Capital as vice chairman, where he would be charged with making Social look less like a VC shop.
Venture capital firm Social Capital on Monday will announce an organizational shakeup, including the departures of growth equity chief Tony Bates (ex-president of GoPro) and vice chairman Marc Mezvinsky (former hedge fund manager and husband of Chelsea Clinton)….
Mezvinsky's role was a bit more confusing but, in short, he was supposed to help scale Social Capital into a much broader asset management firm, which would include a credit business. That plan has been scrapped, and there won't be a credit fund.
So Mezvinsky is left once again to find his bliss elsewhere. Perhaps a mutual fund? Insurance? Infrastructure’s hot these days. Or perhaps he’ll just accept his fate and a lucrative sinecure at the Clinton Foundation?