Shervin Pishevar, accused of sexual exploitation by 5 women, resigns from Sherpa Capital

Uber investor Shervin Pishevar, who was accused of sexually exploiting women earlier this month, has ended his association with venture capital firm Sherpa Capital.

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

I just made the following announcement. pic.twitter.com/ZzmD4X2a3T

— shervin pishevar (@shervin) December 14, 2017

Last month, five women accused Pishevar of exploiting a professional connection to make unwanted sexual advances. The women alleged him of using the prospect of a job, mentorship or investment to make an unwanted sexual advance. However, Women requested not to be identified citing fear of lawsuits and career in security.

On May 27, 2017, Pishevar was arrested in London after a woman accused him of raping her at the Ned hotel. Though later he was released and never charged again, according to London Police. He sued what he described as an opposition research firm, claiming it was trying to spread false allegations about him.

Pishevar, co-founder and managing director of Sherpa Capital, is considered a powerful figure. He is known to have a good relationship with Kalanick and defended when he was resigned as a chief executive officer and sued by another investor.

Meanwhile, Sherpa Capital thanked Pishevar for his contributions to the firm and said it was "deeply committed to our culture of integrity, inclusion, and respect."

The venture capital firm said it had never received any sexual harassment complaint. Though it launched an independent internal review to ensure its practices and operations continue to reflect the highest professional and ethical standards.

Soon after the accusation, Pishevar went on a leave of absence from Sherpa Capital to fight the allegations of sexual assault and harassment and focus on a defamation lawsuit he filed against political consulting firm Definers Public Affairs.

Shervin Pishevar has also stepped down from Hyperloop One, the transportation company he co-founded.