New SkyBridge fund to invest in web3, fintech startups: Business Insider

Quick Take

  • The new fund will focus on privately held web3 fintechs and growing crypto companies

  • SkyBridge previously suspend redemptions from one of its fund due to heavy exposure to bitcoin

Anthony Scaramucci's investment firm SkyBridge Capital will roll out a fund for web3 and crypto startups starting September, Business Insider reported on Wednesday. 

The fund, which is a mix between traditional venture and growth equity, will be open to accredited investors. It will be mainly invested in privately held web3 fintechs as well as in growth and late-stage crypto companies, according to the report, which cited unidentified sources familiar with the matter. SkyBridge is planning to announce the fund at its annual Salt conference on September 12. 

Sources cited by Business Insider said the fund was in line with Scaramucci's aim to be at the forefront of decentralized finance. The investing firm will focus on companies that are trading at discounts on the secondary market and firms that continue raising primary rounds. 

The Block reached out to Scaramucci's camp but they declined to comment. 

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