Speaking at Bloomberg’s Tech Summit, Alfred Lin said if evaluating FTX again for the first time, Sequoia would likely make the same investment decision.
American venture capitalist Alfred Lin, a partner at Sequoia Capital, stood up for the firm’s multimillion-dollar investment in the now-bankrupt crypto exchange FTX.if he were tasked with evaluating FTX again for the first time, Sequoia would likely make the same investment decision. “I looked at the work we did in 15 different ways. [...] We probably would have made the investment again,” Lin reportedly stated.
Sequoia Capital has about $85 billion of assets under management, with investments in major technology companies and several crypto businesses. The venture capital firm invested a total of $213.5 million in FTX and FTX US through two of its funds. The Global Growth Fund III held a $150 million investment in FTX — or 3% of the fund’s capital — while the Capital Global Equities Fund invested $63.5 million into both companies, representing less than 1% of its entire portfolio.announcing it had marked both crypto exchange investments as complete losses after FTX closed. “We are in the business of taking risk.
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