VC buys real estate for sale in SF says ‘don’t listen to naysayers’

VC Neil Mehta, the founder of Greenoaks Capital who is linked to a growing number of building purchases a few blocks from San Francisco’s once-glittering Fillmore Street, defended himself Monday in an op-ed in the San Francisco Standard, saying it was only a move. about revitalizing “the city that gave me more than I could ever give back.”

The piece aims to hit back at local politicians, including SF Supervisor Aaron Peskin, who recently held a rally on the strip, telling onlookers and reporters that Mehta’s purchase would displace old small businesses. (Peskin is also currently running for mayor.)

Mehta – who does not really look down on buybacks – added that he is not looking to make a quick buck in real estate. They are being bought with a real estate fund he supports through a non-profit organization to which he (alone) has donated $100 million. Therefore, Mehta insists, he has “no financial interest at all in these properties,” “will receive nothing in return,” and any profits “will be reinvested in the community.”