Company type | Limited liability company |
---|---|
Industry | Venture capital |
Founded | 2018 |
Founder | Arjun Sethi (entrepreneur) Jonathan Hsu Ted Maidenberg |
Headquarters | Menlo Park, California, United States |
Website | www |
Tribe Capital is an American venture capital firm. [1] [2] [3] [4] It was founded in 2018 as a spinoff of Social Capital. [1] [5] It funds startups in software and cryptocurrency both in the United States and internationally. [6]
Its first investment was in Sfox in 2018. [7]
In 2021, Tribe sponsored a special-purpose acquisition company that became a public company on the Nasdaq with $240 million in capital. [5] [1] [8] [9]
In July 2021, Tribe Capital's assets under management were $1.5 billion. [1]
After the 2022 crash in the cryptocurrency market, the company was still optimistic on cryptocurrency companies. [10]
In October 2022, leaked documents showed Tribe Capital's first fund had seen a "nearly fivefold return on investment." [6]
In April 2023, Tribe considered a $250 million bid to restart FTX. [11] [12] [13]
In May 2023, it was planning on starting a fund in India. [14]
The company has been critiqued on matters such as investments in the cryptocurrency market, markdowns on several of its portfolio companies, [10] and its response to the collapse of Silicon Valley Bank in 2023. [15] [16] [17]
On December 11, 2023, co-founder Arjun Sethi became Tribe's chairman and chief investment officer, and Boris Revsin succeeded him as CEO. [18]