VC Firms Sequoia, Paradigm, Temasek Invest in Failed Crypto Exchange FTX

Bulletpoints:
• Failed crypto exchange FTX revealed the names of various shareholders and investors in a recent bankruptcy court filing.
• VC firms Sequoia, Paradigm, and Temasek led the four rounds of fundraising between July 2021 and January 2022.
• Sequoia Capital invested the most in series B and series A, obtaining 4.8 million preferred shares and 5.3 million shares, respectively.

FTX, a failed crypto exchange, recently revealed the names of various shareholders and investors in a bankruptcy court filing dated Jan. 9. The filing showed that four rounds of fundraising had taken place between July 2021 and January 2022. These fundraising rounds were led by prominent venture capital firms known for their involvement in the crypto industry: Sequoia, Paradigm, and Temasek.

Sequoia Capital made two large investments in series B and series A, obtaining 4.8 million preferred shares and 5.3 million shares respectively. It also gained just over 572,000 shares in Series B-1, though it was only responsible for 16% of that round. Paradigm made its largest investment in Series A, acquiring 16.5 million shares. Despite this, it only led Series C, where it obtained 1.6 million shares and was responsible for 20% of all funding. It also obtained 1.5 million shares in series B.

Temasek, a Singapore state-owned investment company that recently moved into crypto VC investment, led FTX’s ambitious series A funding round. Temasek obtained 26.3 million shares and accounted for 16% of that investment. Additionally, filings showed that the New England Patriots owner Robert Kraft, Coinbase Ventures, and Tiger Global Management had all invested in FTX during the four rounds of fundraising.

Overall, the filing from FTX showed that a number of prominent investors had taken part in the four rounds of fundraising, with Sequoia and Paradigm leading the way. The filing also revealed the New England Patriots owner, Coinbase, and Tiger Global Management had all invested in FTX. With this information now available, it will be interesting to see what other new investors join the fray in the coming months.

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