FTX Ventures, a multi-stage venture capital fund focused on supporting teams building in crypto and web3, will acquire a 30% stake in global alternative investment firm SkyBridge Capital.
The financial terms of the transaction have not been disclosed.
With the investment, SkyBridge will have additional working capital to fund growth initiatives and new product launches.
SkyBridge will use a portion of the proceeds to buy $40 million in cryptocurrencies to hold on its corporate balance sheet as a long-term investment.
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