FTX’s venture backers included Patriots owner Robert Kraft and billionaire Paul Tudor Jones,Temasek (Singapore Sov. Wealth Fund), Softbank, Skybridge, Tiger Global new filings show
It wasn’t just Tom Brady and Gisele Bündchen. The roster of high-profile investors who lost money betting on crypto exchange FTX also included New England Patriots owner Robert Kraft and billionaire hedge fund manager Paul Tudor Jones, according to court filings released late Monday.
Sam Bankman-Fried’s well-documented success at raising money and charming investors extended to a more expansive set of celebrity investors and big-name financers than was previously disclosed. FTX went through four fundraising rounds to reach a $32 billion valuation by early last year, before ultimately spiraling into bankruptcy in November. Bankman-Fried, FTX’s co-founder and former CEO, has pleaded not guilty to multiple criminal charges, including fraud and money laundering. In December, he was released on a $250 million bond while awaiting trial. For venture backers, FTX represents a loss of historic proportions. Sequoia Capital said in November that it had marked its investment of over $210 million down to zero. Before former equity holders can begin trying to recoup any of their investment, customers face a long road to recovery as the bankruptcy process winds its way through court and across dozens of jurisdictions. FTX’s venture investors included a host of luminaries. Dan Loeb controlled over 6.1 million preferred shares through Third Point-connected venture funds. Rival exchange Coinbase held nearly 1.3 million preferred shares (which is 4-5% owned by financial cancer Cathie Wood nao)
Jones, the founder of Tudor Investment, apparently owned shares through a series of family trusts. Kraft controlled 155,144 shares of preferred stock through previously undisclosed investments in FTX. Brady, who at age 45 is the winningest quarterback in National Football League history, was a known FTX backer and a pitchman for the company. He held common stock in the company alongside Bündchen. The celebrity couple announced their divorce in October after 13 years of marriage. Despite being called a Series B raise, this July 2021 fundraising round was FTX’s first infusion of outside capital,(if you don't count the $38B in Tether that was created out of thin air and given to them-when Tether had a "value" of $4B at time) excluding an early investment from Binance that was ultimately wound down. Investors included Paradigm and Sequoia, as well as Thoma Bravo and Third Point. The $900 million round valued FTX at $18 billion. Just months later, FTX closed a funding round for $420 million, which included many of the original Series B backers. The investor list expanded to include previously undisclosed capital from Alibaba co-founder Joe Tsai’s family office, Blue Pool, among others.https://www.cnbc.com/2023/01/10/ftx-investors-included-robert-kraft-paul-tudor-jones-new-filings.html