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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] It was founded in 2018 as a spinoff of Social Capital.[1][5] It funds startups in software and cryptocurrency both in the United States and internationally.[6]
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History
Its first investment was in Sfox in 2018.[7]
In 2021, Tribe sponsored a special-purpose acquisition company that became a public company on the Nasdaq with $240 million in capital.[5][1][8][9]
In July 2021, Tribe Capital's assets under management were $1.5 billion.[1]
After the 2022 crash in the cryptocurrency market, the company was still optimistic on cryptocurrency companies.[10]
In October 2022, leaked documents showed Tribe Capital's first fund had seen a "nearly fivefold return on investment."[6]
In April 2023, Tribe considered a $250 million bid to restart FTX.[11][12][13]
In May 2023, it was planning on starting a fund in India.[14]
The company has been critiqued on matters such as investments in the cryptocurrency market, markdowns on several of its portfolio companies,[10] and its response to the collapse of Silicon Valley Bank in 2023.[15][16][17]
On December 11, 2023, co-founder Arjun Sethi became Tribe's chairman and chief investment officer, and Boris Revsin succeeded him as CEO.[18]
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See also
References
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