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SkyBridge Capital to sell 30 per cent stake to FTX Ventures

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SkyBridge Capital, has secured an investment worth 30 per cent of the business from FTV Ventures, a $2 billion venture capital firm based in Nassau, Bahamas, according to a report by Finance Magnates.

SkyBridge Capital, has secured an investment worth 30 per cent of the business from FTV Ventures, a $2 billion venture capital firm based in Nassau, Bahamas, according to a report by Finance Magnates.

The report cites an announcement made by Skybridge, which was founded by Anthony ‘The Mooch’ Scaramucci in 2005, that as as well as acquiring a 30% stake, in the business, FTV Ventures will also provide Skybridge with additional working capital.

Financial terms of the deal have not been disclosed.

SkyBridge Capital is reportedly planning to use a portion of the amount received to buy $40 million in cryptocurrencies to hold as a long-term investment.

And well as crypto investments, FTX Ventures plans to work with SkyBridge on “promising” non-crypto-related investments. In early 2022, the firm invested $100 million in Dave, a fast-growing banking app, and in in May, acquired a 7.6% stake in Robinhood, a US commission-free stock trading and investing app. FTV paid a total of $648 million at an average of $11.52.
 

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