SBF and the Mooch tie the knot as FTX Ventures takes 30% stake of SkyBridge Capital
FTX Ventures, an arm of Sam Bankman-Fried’s FTX crypto exchange, will acquire a 30% stake in alternative asset manager SkyBridge Capital, the firms announced Sept. 9. The terms of the deal were not disclosed, but SkyBridge will use $40 million of the proceeds to purchase cryptocurrencies to hold as a long-term investment, according to a statement.
SkyBridge founder and managing partner Anthony Scaramucci said about the deal on Twitter (NYSE:), “There’s a small universe of outside investors SkyBridge would ever consider partnering with, and @SBF_FTX is one of them.” He added separately, “This won’t significantly impact our day-to-day business and doesn’t change our strategy. […] We will remain a diversified asset firm, while investing heavily in blockchain.” SkyBridge managed about $2.5 billion, including over $800 million in digital assets, as of June 30, according to its website.