According to investor memos seen by the New York Times, Andreesen Horowitz defends the decision to hire Daniel Penny.
The venture capital firm sparked a stir earlier this week after announcing it would hire Penny, who was acquitted last year after choking a homeless man on the New York City subway.
Penny, a former Marine, has no investment experience. The company said it will tackle a US dynamism team focused on government and defense. The company also said it would teach him how to invest.
In a memo seen by the New York Times, the company said it “has spent a lot of time with active duty veterans, veterans, police chiefs and sheriffs,” and that their relationship was “critical to our success.” .
The memo continues, “We believe there is long-term value in expanding our network to work with Daniel, and we are excited to have him as a part of our team. ”