{"id":511143,"date":"2022-11-16T22:32:12","date_gmt":"2022-11-16T19:32:12","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/top-venture-firm-botched-chance-to-sell-ftx-stake-source\/"},"modified":"2022-11-16T22:32:12","modified_gmt":"2022-11-16T19:32:12","slug":"top-venture-firm-botched-chance-to-sell-ftx-stake-source","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/top-venture-firm-botched-chance-to-sell-ftx-stake-source\/","title":{"rendered":"#Top venture firm botched chance to sell FTX stake: source"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a358b126acf8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a358b126acf8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/top-venture-firm-botched-chance-to-sell-ftx-stake-source\/#%E2%80%9CTop_venture_firm_botched_chance_to_sell_FTX_stake_source%E2%80%9D\" >&#8220;Top venture firm botched chance to sell FTX stake: source&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CTop_venture_firm_botched_chance_to_sell_FTX_stake_source%E2%80%9D\"><\/span>&#8220;Top venture firm botched chance to sell FTX stake: source&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>A top venture capital firm had a chance to unload a major stake in FTX days before Sam Bankman-Fried\u2019s crypto empire collapsed \u2014 but botched the deal after trying to squeeze more money out of the buyer, The Post has learned.<\/p>\n<p>San Francisco-based Greenoaks Capital found a suitor in the private markets less than two weeks ago who was willing to pay $28 a share for the fund\u2019s FTX stake, which was valued at roughly $35 million at the time.<\/p>\n<p>The deal had valued FTX at more than $20 billion, said a source with close knowledge of the situation. That might have clinched a tidy profit for Greenoaks, which was among several venture capitalists that invested in FTX when it raised $400 million at an $8 billion valuation in January, according to published reports.<\/p>\n<p>But instead of taking the offer, Greenoaks, run by Neil Mehta \u2014 known for backing South Korea e-retail giant Coupang and stock-trading start-up Robinhood \u2014 decided to pressure the buyer into ponying up $34 per share, up from an earlier ask of $31 a share, the source said.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-03.jpg?w=1024\" alt=\"Picture of Neil Mehta\" class=\"wp-image-24661928\" width=\"312\" height=\"306\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-03.jpg?quality=75&amp;strip=all&amp;w=615 624w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-03.jpg?quality=75&amp;strip=all&amp;w=461 468w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-03.jpg?quality=75&amp;strip=all&amp;w=308 312w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-03.jpg?quality=75&amp;strip=all&amp;w=154 156w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-03.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 312px) 100vw, 312px\"\/><figcaption>Greenoaks head Neil Mehta is a fan of Batman and named one of his funds after Batman villain Carmine.<\/figcaption><figcaption><span class=\"credit\">Greenoaks Capital<\/span><\/figcaption><\/figure>\n<\/div>\n<p>The deal ended up falling through and Greenoaks\u2019 $35 million stake became worthless a few days later after Bankman-Fried put his once-high-flying crypto company into bankruptcy.<\/p>\n<p>Had Greenoaks not been so greedy, it could have likely signed the paperwork to make the deal binding before FTX filed for bankruptcy, the source said. The buyer may have challenged the contract in court after Bankman-Fried\u2019s downfall, but there would have probably been a settlement, the source speculated.<\/p>\n<p>Greenoaks has $15 billion in assets under management. The 38-year-old Mehta has been prone to naming some of his funds for Batman characters, such as the fictional mob boss Carmine Falcone, according to the Financial Times.<\/p>\n<p>Looking ahead, Mehta can name any future fund after a new villain \u2014 SBF.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-02-1.jpg?w=1024\" alt=\"FTX logo on a laptop\" class=\"wp-image-24677958\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-02-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-02-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-02-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>FTX raised $400 million at an $8 billion valuation in January.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-01.jpg?w=1024\" alt=\"Picture of FTX Founder Sam Bankman-Fried\" class=\"wp-image-24661997\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-01.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-01.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-01.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Greenoaks\u2019 stake in FTX it was selling became worthless after its haggling.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Greenoaks did not return calls.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/11\/16\/top-venture-firm-botched-chance-to-sell-ftx-stake-source\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Top venture firm botched chance to sell FTX stake: source&#8221; A top venture capital firm had a chance to unload a major stake in FTX days before Sam Bankman-Fried\u2019s crypto empire collapsed \u2014 but botched the deal after trying to squeeze more money out of the buyer, The Post has learned. San Francisco-based Greenoaks Capital&#8230;<\/p>\n","protected":false},"author":1,"featured_media":511144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/greenoaks-ftx-comp.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135234,89897,135628,76127,106544,71745],"class_list":["post-511143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftx","tag-sam-bankman-fried","tag-11-16-22","tag-cryptocurrency","tag-on-the-money","tag-venture-capital"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=511143"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/511143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/511144"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=511143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=511143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=511143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}