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Tribe Capital
American venture capital firm From Wikipedia, the free encyclopedia
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Tribe Capital is an American venture capital firm.[1][2][3][4] Founded in 2018 as a spinoff of Social Capital,[1] company "deploys capital in early stage to late-stage start-ups as well as mature companies via venture, growth equity and loan vehicles,"[5] backing startups in software and cryptocurrency both in the United States and internationally.[6]
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History
It made its first investment in the cryptocurrency startup Sfox in 2018.[7]
In 2021[1] Tribe had a special-purpose acquisition company[8] go public on the Nasdaq with funds of $240 million.[5]
In July 2021, Institutional Investor reported that Tribe Capital's assets under management were $1.5 billion.[1] After the 2022 crash in the cryptocurrency market, Bloomberg reported that Tribe Capital remained "bullish" on cryptocurrency companies.[9] In October 2022, leaked documents showed Tribe Capital's first fund had seen a "nearly fivefold return on investment."[6] In April 2023, Tribe was said to be considering a $250 million bid to restart FTX.[10][11][12] As of May 2023, it was planning on starting a fund in India.[13]
The company has been critiqued on matters such as investments in the cryptocurrency market, markdowns on several of its portfolio companies,[9] and its response to the 2023 collapse of Silicon Valley Bank.[14][15][16]
On December 11, 2023, it was reported that co-founder Arjun Sethi had become Tribe's chairman and chief investment officer, and that Boris Revsin had succeeded him as CEO.[17]
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See also
References
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