Tribe Capital
TypeLimited liability company
IndustryVenture capital
Founded2018 (2018)
FounderArjun Sethi (entrepreneur)
Jonathan Hsu
Ted Maidenberg
HeadquartersMenlo Park, California, United States
Websitewww.tribecap.co

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]

Its portfolio companies include Carta, Kraken,[7] Relativity Space,[8] and Instabase, among others.[1]

It made its first investment in the cryptocurrency startup SFOX in 2018.[9] 

It closed its fourth fund[2] in late 2019 and in 2020[6] raised $335 million for its second fund.[7]

Between December 2020 and May 2021, Tribe spent a total of $120 million on primary and secondary equity investments.[10]

In 2021[1] Tribe had a special-purpose acquisition company[11] 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.[7] 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.[12][13][14] As of May 2023, it was planning on starting a fund in India.[15]

The company has been critiqued on matters such as investments in the cryptocurrency market, markdowns on several of its portfolio companies,[7] and its response to the 2023 collapse of Silicon Valley Bank.[16][17][18]

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.[19]

See also

References

  1. 1 2 3 4 5 Segal, Julie (July 15, 2021), "Cracking Private Companies: Investors Buy Into Tribe Capital's Vision of Disrupting Silicon Valley Itself", Institutional Investor, retrieved June 26, 2023
  2. 1 2 Boslet, Mark (July 24, 2019), "Tribe Capital Details its Data Plans", Venture Capital Journal, retrieved June 26, 2023
  3. Mosqueda Jr., Mars (April 21, 2021), "Silicon Valley's Tribe Capital makes initial close of new VC fund at $164 m", DealStreetAsia, retrieved June 26, 2023
  4. Balakrishnan, Pranav (October 15, 2022), "Up to 50% of startups will have to sell or shut amid funding winter: Tribe Capital's Arjun Sethi", The Economic Times, retrieved June 26, 2023
  5. 1 2 Chithelen, Ignatius (May 14, 2021), "Will Tribe Capital succeed with its Crypto Investments", Global Indian Times, retrieved June 26, 2023
  6. 1 2 3 Bort, Julie (October 7, 2022), "In leaked documents, VC firm Tribe Capital, founded by Social Capital alums, shows off big returns and a plan for a new $400 million fund", Business Insider, retrieved June 26, 2023
  7. 1 2 3 4 Lizette Chapman, Bloomberg (December 23, 2022), "VC firms are getting stingier with startups. Tribe Capital's struggles show why", Fortune, retrieved June 26, 2023
  8. Tan, Gillian (December 15, 2020), "Tribe Capital, Founded by Social Capital Alum, Plan SPAC", Bloomberg, retrieved June 26, 2023
  9. Verhage, Julie (August 16, 2018), "Tribe Capital is investing in cryptocurrency platform SFOX", Bloomberg, retrieved June 26, 2023
  10. Tan, Gillian (May 20, 2021), "Crypto Platform Kraken Adds Tribe Capital's Sethi to Its Board", Bloomberg, retrieved June 26, 2023
  11. Burger, Dani (March 5, 2021), "Tribe Capital's Sethi on SPAC Structures, Cryptocurrencies", Bloomberg Markets: The Close, retrieved June 26, 2023
  12. Lawler, Ryan (April 19, 2023), Tribe Capital weighing $250M bid to reboot FTX, Axios, retrieved June 25, 2023
  13. Weiss, Ben (April 18, 2023), Tribe Capital just can’t quit FTX: VC burned by SBF is considering an investment in reboot of bankrupt crypto exchange, report says, Fortune, retrieved June 26, 2023
  14. Yueqi Yang, Jeremy Hill (April 18, 2023), FTX Revival Effort Draws Possible Bid From Tribe Capital, Bloomberg Law, retrieved June 26, 2023
  15. Sharma, Samidha (May 30, 2023), "Exclusive: Silicon Valley's Tribe Capital plans to raise $250 million India-dedicated fund", The Economic Times, retrieved June 26, 2023
  16. Bensinger, Greg (March 12, 2023), "SVB shutdown sends shockwaves through Silicon Valley as CEOs race to make payroll", Reuters, retrieved June 26, 2023
  17. Sarah McBride, Hannah Miller (March 9, 2023), "Silicon Valley Bank tells clients to 'stay calm' as shares sink", Bloomberg / Los Angeles Times, retrieved June 26, 2023
  18. "Recriminations fly as venture capitalists contemplate Silicon Valley Bank's collapse", Financial Times, March 13, 2023, retrieved June 26, 2023
  19. Tan, Gillian (2023-12-11). "Tribe Capital CEO Sethi Names Revsin Successor, Becomes CIO". Bloomberg News. Retrieved 2024-01-09.

 

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.