Tribe Capital

Last updated
Tribe Capital
Company type Limited liability company
Industry Venture capital
Founded2018;6 years ago (2018)
Founder Arjun Sethi (entrepreneur)
Jonathan Hsu
Ted Maidenberg
Headquarters Menlo Park, California, United States
Website www.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]

Contents

History

It made its first investment in the cryptocurrency startup SFOX in 2018. [7]  

In 2021 [1] Tribe had a special-purpose acquisition company [8] 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. [9] 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. [10] [11] [12] As of May 2023, it was planning on starting a fund in India. [13]

The company has been critiqued on matters such as investments in the cryptocurrency market, markdowns on several of its portfolio companies, [9] and its response to the 2023 collapse of Silicon Valley Bank. [14] [15] [16]

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. [17]

See also

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References

  1. 1 2 3 4 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. ↑ 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 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. ↑ Verhage, Julie (August 16, 2018), "Tribe Capital is investing in cryptocurrency platform SFOX", Bloomberg , retrieved June 26, 2023
  8. ↑ Burger, Dani (March 5, 2021), "Tribe Capital's Sethi on SPAC Structures, Cryptocurrencies", Bloomberg Markets: The Close , retrieved June 26, 2023
  9. 1 2 Lizette Chapman, Bloomberg (December 23, 2022), "VC firms are getting stingier with startups. Tribe Capital's struggles show why", Fortune , retrieved June 26, 2023
  10. ↑ Lawler, Ryan (April 19, 2023), Tribe Capital weighing $250M bid to reboot FTX, Axios , retrieved June 25, 2023
  11. ↑ 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
  12. ↑ Yueqi Yang, Jeremy Hill (April 18, 2023), FTX Revival Effort Draws Possible Bid From Tribe Capital, Bloomberg Law , retrieved June 26, 2023
  13. ↑ 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
  14. ↑ Bensinger, Greg (March 12, 2023), "SVB shutdown sends shockwaves through Silicon Valley as CEOs race to make payroll", Reuters , retrieved June 26, 2023
  15. ↑ 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
  16. ↑ "Recriminations fly as venture capitalists contemplate Silicon Valley Bank's collapse", Financial Times , March 13, 2023, retrieved June 26, 2023
  17. ↑ Tan, Gillian (2023-12-11). "Tribe Capital CEO Sethi Names Revsin Successor, Becomes CIO". Bloomberg News . Retrieved 2024-01-09.

 

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