Neel Somani, the founder of Eclipse, encountered allegations of sexual misconduct, prompting his resignation as CEO. In a swift transition, Vijay Chetty was appointed as the new CEO of Eclipse Labs following Somani's departure. The announcement of Chetty's leadership role came on May 16 without divulging the specific reasons behind Somani's exit.

Vijay Chetty assumed the CEO position based on his proven track record and contributions to Eclipse Labs. Chetty brings valuable investment experience from BlackRock and has held leadership positions at prominent firms like Uniswap Labs, dYdX Trading, and Ripple Labs.

Hack VC, a significant investor in Eclipse, issued a statement expressing deep concern over the allegations against Neel Somani. The firm's response underscored a strict stance against sexual harassment and misconduct, signaling a commitment to maintaining a zero-tolerance policy within the industry.

The statement from Hack VC refrained from detailing the specific allegations against Somani but emphasized the seriousness of the situation and the potential repercussions it could entail. The firm hinted at the possibility of requesting Somani's resignation as part of their efforts to address and resolve the issue, demonstrating a dedication to upholding ethical standards and fostering a culture of accountability.

Hack VC's statement emphasized the importance of upholding high standards not only within their own operations but also across their portfolio companies. This focus on ethical values and transparency aims to enhance trust within the investment sector, showcasing a proactive approach to addressing sensitive matters and ensuring accountability throughout the industry.