Bankman-Fried invested in venture capital backers of his FTX exchange
Sam Bankman-Fried invested hundreds of millions of dollars into venture capital funds run by firms such as Sequoia Capital which also backed his struggling FTX crypto exchange, according to documents seen by the Financial Times.
The 30-year-old entrepreneur, who has been seeking to raise billions of dollars in emergency financing, has a $200mn investment in two funds run by Sequoia, the US venture capital investor, held through his Alameda Research crypto trading group.
Alameda also had smaller investments in funds run by FTX venture capital backers Paradigm, Altimeter Capital Management, Sino Global Capital and Multicoin Capital, the documents show.
A FTX spokesperson did not immediately return a request for comment. A spokesperson for Alameda could not be immediately identified. The fund shut its website this week.
This story originally appeared on: Financial Times - Author:Kadhim Shubber
