Founded by Anthony Scaramucci, SkyBridge Capital will launch a venture capital fund focusing on Web3 and the crypto industry. It is aimed at developing startups and late-stage companies, Business Insider writes, citing knowledgeable sources.
Accredited investors will have access to the structure. The official announcement may take place at the Salt conference on September 12th.
SkyBridge Capital intends to open the fund under the conditions of forming attractive discounts in the secondary market. Startups with stable valuations after recent investment rounds are also of interest.
SkyBridge-managed funds have invested ~$425 million in 12 private firms, including FTX, since January 2021.
Earlier, the media reported on the freezing of the redemption of shares of the Legion Strategies fund by the investment company after the collapse of stock prices and cryptocurrencies.
About 20% of the structure’s portfolio is accounted for by start-ups that do not have high liquidity. It was assumed that some of them would receive public status this year.
The flagship Multi-Adviser Hedge Fund Portfolios is also experiencing problems. In an interview with The New York Times, Anthony Scaramucci said that investors sent applications for withdrawing $890 million. At the end of March, the AUM of the structure was $2 billion – about 22% of assets were invested in cryptocurrencies.