FTX’s $45M Sequoia Sale Cleared, as Embed Divestment Delayed
A Delaware bankruptcy judge approved the sale of the bankrupt company’s assets to Abu Dhabi’s investment arm. Original Source
Read More
Sequoia
Alameda Research to Sell Sequoia Interest to Abu Dhabi Sovereign Wealth Fund for $45M in Cash
FTX’s sister trading firm Alameda has agreed to sell its interest in Sequoia Capital to a UAE-based entity. Alameda Research appears set to sell its interest in Sequoia Capital to Abu Dhabi for $45 million. According to a recent report, the FTX sister trading firm agreed to sell the Sequoia stake to the Abu
Read More
Alameda Research to sell interest in Sequoia Capital for $45M to Abu Dhabi
The latest update in the FTX bankruptcy case comes as a new deal was struck between the defunct cryptocurrency exchange and Abu Dhabi.A court document from the United States Bankruptcy Court for the District of Delaware on March 8 revealed that Alameda Research, the investment branch of FTX, will sell
Read More
FTX Reaches $45M Deal to Sell Interest in Sequoia to Abu Dhabi’s Investment Arm
The agreement could be closed as soon as March 31, though deals made by bankrupt companies are subject to close judicial scrutiny. The would-be buyer, Al Nawwar Investments RSC Limited, is ultimately owned by the government of Abu Dhabi, and already invests in Sequoia, the document said. Original Source
Read More
Sequoia and a16z Make More Investments in Fintech than in Any Other Sector in 2022
Leading VC giants Sequoia & a16z undertook several investments in the fintech space in 2022, more than any other sector. Sequoia Capital and Andreessen Horowitz (a16z) reportedly invested more in fintech than any other sector last year. Both leading venture capital firms made sizable investments in fintech despite the tech downturn that characterized much of
Read More
Sequoia Capital, Paradigm among VCs facing “tricky” FTX investor lawsuit
Users of bankrupt crypto exchange FTX have reportedly taken aim at financiers who promoted the platform suggesting their efforts added an “air of legitimacy” to the now-defunct exchange, a case labeled as "tricky" by a crypto lawyer.A Feb. 15 Bloomberg report revealed a class-action suit filed Feb. 14 by FTX
Read More