Canvas Ventures hires former Social Capital GP Mike Ghaffary

Canvas Ventures is expanding its team of three general partners to four with the hiring of Mike Ghaffary, a former general partner at Social Capital.
An experienced operator and investor, Ghaffary was previously the chief executive officer of Yelp subsidiary Eat24, as well as the co-founder and vice president of the podcast platform Stitcher.
Ghaffary joins Paul Hsiao, Gary Little and Rebecca Lynn as GPs at Canvas, which backs early-stage startups with $5 million to $20 million. The firm focuses on fintech, marketplaces, digital health and new enterprise with a portfolfio that includes text messaging platform Hustle and video security startup Owl. Ghaffary, in particular, will seek out consumer tech, marketplaces and software businesses.  
Ghaffary, a long-time angel investor, has been focused exclusively on solo dealmaking since leaving Social Capital, the fund led by Chamath Palihapitiya, in late August. After two years at the firm, Ghaffary announced his departure. Ghaffary was among several staffers to depart Social Capital last summer, shortly before Palihapitiya announced the firm would no longer raise outside capital and would operate as a holding company.
“[Social Capital] just changed a lot from a traditional venture firm,” Ghaffary told TechCrunch. “I realized that where I was most excited to be was a smaller boutique firm focused on Series A and B investing.”

The mass exodus at Social Capital continues
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