Scaramucci offers liquidity lifeline to tech unicorn investors, former employees

Companies • July 24, 2023, 1:27PM EDT
Published 1 minute earlier on
The Block

Quick Take

  • The move could be related to the “Unicorn Recovery Fund” that SkyBridge launched in February of this year.

Anthony Scaramucci, founder of the investment firm SkyBridge, has an offer for tech shareholders that might need some cash.

"We at SkyBridge are buying secondary shares from early investors and former employees of tech unicorns," Scaramucci wrote on Twitter Monday. "If you own shares in a tech unicorn and need liquidity, please DM me and I will connect you with someone on our team."

The move could be related to SkyBridge's $50 million recovery fund launched in February. The "Uniform Recovery Fund" is aiming to acquire shares from distressed investors of up to 15 firms, Reuters first reported. 

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

SkyBridge did not immediately respond to a request for comment from The Block.

In July of 2022, SkyBridge established a web3-focused investment fund that would offer a mix of traditional venture and growth equity. 


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

Editor

To contact the editor of this story:
Nathan Crooks at
[email protected]

More by MK Manoylov