Tribe Capital is an American

venture capital firm Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which hav ...

. Founded in 2018 as a spinoff of

Social Capital Social capital is "the networks of relationships among people who live and work in a particular society, enabling that society to function effectively". It involves the effective functioning of social groups through interpersonal relationships ...

, company "deploys capital in early stage to late-stage start-ups as well as mature companies via venture, growth equity and loan vehicles," backing startups in software and cryptocurrency both in the United States and internationally.

History

It made its first investment in the

cryptocurrency A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It i ...

startup SFOX in 2018. In 2021 Tribe had a

special-purpose acquisition company A special purpose acquisition company (SPAC; ), also known as a "blank check company", is a shell corporation listed on a stock exchange with the purpose of acquiring a private company, thus making it public without going through the traditional i ...

go public on the

Nasdaq The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

with funds of $240 million. In July 2021, ''

Institutional Investor An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked co ...

'' reported that Tribe Capital's assets under management were $1.5 billion. After the 2022 crash in the cryptocurrency market, ''Bloomberg'' reported that Tribe Capital remained "

bullish Market sentiment, also known as investor attention, is the general prevailing attitude of investors as to anticipated Market trends, price development in a market. This attitude is the accumulation of a variety of fundamental analysis, fundamenta ...

" on cryptocurrency companies. In October 2022, leaked documents showed Tribe Capital's first fund had seen a "nearly fivefold return on investment." In April 2023, Tribe was said to be considering a $250 million bid to restart FTX. As of May 2023, it was planning on starting a fund in India. The company has been critiqued on matters such as investments in the cryptocurrency market, markdowns on several of its portfolio companies, and its response to the 2023

collapse of Silicon Valley Bank On Friday, March 10, 2023, Silicon Valley Bank (SVB) failed after a bank run, marking the second-largest bank failure in United States history and the largest since the 2007–2008 financial crisis. It was one of three March 2023 United Sta ...

. On December 11, 2023, it was reported that co-founder Arjun Sethi had become Tribe's chairman and

chief investment officer The chief investment officer (CIO) is a job title for the board level head of investments within an organization. The CIO's purpose is to understand, manage, and monitor their organization's portfolio of assets, devise strategies for growth, act as ...

, and that Boris Revsin had succeeded him as CEO.

References

{{reflist Financial services companies established in 2018 Venture capital firms of the United States Companies based in San Francisco Financial services companies based in California 2018 establishments in California Privately held companies based in California

History

See also

References