FTX Ventures, a multi-stage venture capital fund, has announced that it has acquired a 30% stake in SkyBridge Capital, a global alternative investment company. This partnership of FTX Ventures will encourage further cooperation to acquire a stake in SkyBridge Capital.
About The Partnership
FTX Ventures’ investment will provide October SkyBridge with additional working capital to fund growth initiatives and new product launches. In addition, SkyBridge will use part of the proceeds to purchase $40 million in cryptocurrencies to keep on its corporate balance sheet as a long-term investment.
The agreement is the latest collaboration between SkyBridge and FTX after a multi-year partnership to sponsor global SALT conferences in North America, Asia and the Middle East and co-present Crypto Bahamas, the leading corporate digital assets conference launched in April 2022. Firms will expand venture and digital asset investment collaboration across current and future product offerings.
About FTX Ventures
FTX Ventures is a multi-stage venture capital fund focused on supporting the world’s best teams in the field of crypto and Web3. The fund provides flexible financing and strategic support from FTX and its global network of partners.
About SkyBridge Capital
SkyBridge Capital is a global multi-strategy alternative investment company focused on hedge funds, fintech and venture capital.