Tribe Capital
TypeLimited liability company
IndustryVenture capital
Founded2018 (2018)
FounderArjun Sethi (entrepreneur)
Jonathan Hsu
Ted Maidenberg
HeadquartersMenlo Park, California, United States
Websitewww.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]

Its portfolio companies include Carta, Kraken,[7] Relativity Space,[8] and Instabase, among others.[1]

It made its first investment in the cryptocurrency startup SFOX in 2018.[9] 

It closed its fourth fund[2] in late 2019 and in 2020[6] raised $335 million for its second fund.[7]

Between December 2020 and May 2021, Tribe spent a total of $120 million on primary and secondary equity investments.[10]

In 2021[1] Tribe had a special-purpose acquisition company[11] 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.[7] 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.[12][13][14] As of May 2023, it was planning on starting a fund in India.[15]

The company has been critiqued on matters such as investments in the cryptocurrency market, markdowns on several of its portfolio companies,[7] and its response to the 2023 collapse of Silicon Valley Bank.[16][17][18]

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.[19]

See also

References

  1. 1 2 3 4 5 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. 1 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 3 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. 1 2 3 4 Lizette Chapman, Bloomberg (December 23, 2022), "VC firms are getting stingier with startups. Tribe Capital's struggles show why", Fortune, retrieved June 26, 2023
  8. ↑ Tan, Gillian (December 15, 2020), "Tribe Capital, Founded by Social Capital Alum, Plan SPAC", Bloomberg, retrieved June 26, 2023
  9. ↑ Verhage, Julie (August 16, 2018), "Tribe Capital is investing in cryptocurrency platform SFOX", Bloomberg, retrieved June 26, 2023
  10. ↑ Tan, Gillian (May 20, 2021), "Crypto Platform Kraken Adds Tribe Capital's Sethi to Its Board", Bloomberg, retrieved June 26, 2023
  11. ↑ Burger, Dani (March 5, 2021), "Tribe Capital's Sethi on SPAC Structures, Cryptocurrencies", Bloomberg Markets: The Close, retrieved June 26, 2023
  12. ↑ Lawler, Ryan (April 19, 2023), Tribe Capital weighing $250M bid to reboot FTX, Axios, retrieved June 25, 2023
  13. ↑ 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
  14. ↑ Yueqi Yang, Jeremy Hill (April 18, 2023), FTX Revival Effort Draws Possible Bid From Tribe Capital, Bloomberg Law, retrieved June 26, 2023
  15. ↑ 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
  16. ↑ Bensinger, Greg (March 12, 2023), "SVB shutdown sends shockwaves through Silicon Valley as CEOs race to make payroll", Reuters, retrieved June 26, 2023
  17. ↑ 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
  18. ↑ "Recriminations fly as venture capitalists contemplate Silicon Valley Bank's collapse", Financial Times, March 13, 2023, retrieved June 26, 2023
  19. ↑ Tan, Gillian (2023-12-11). "Tribe Capital CEO Sethi Names Revsin Successor, Becomes CIO". Bloomberg News. Retrieved 2024-01-09.

 

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