{"id":512301,"date":"2022-11-18T21:00:21","date_gmt":"2022-11-18T18:00:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/orlando-bravo-told-investors-he-was-shocked-by-ftx-losses-source\/"},"modified":"2022-11-18T21:00:21","modified_gmt":"2022-11-18T18:00:21","slug":"orlando-bravo-told-investors-he-was-shocked-by-ftx-losses-source","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/orlando-bravo-told-investors-he-was-shocked-by-ftx-losses-source\/","title":{"rendered":"#Orlando Bravo told investors he was &#8216;shocked&#8217; by FTX losses: source"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a2d25a96d8b2\" 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-6a2d25a96d8b2\" 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\/orlando-bravo-told-investors-he-was-shocked-by-ftx-losses-source\/#%E2%80%9COrlando_Bravo_told_investors_he_was_%E2%80%98shocked_by_FTX_losses_source%E2%80%9D\" >&#8220;Orlando Bravo told investors he was &#8216;shocked&#8217; by FTX losses: source&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9COrlando_Bravo_told_investors_he_was_%E2%80%98shocked_by_FTX_losses_source%E2%80%9D\"><\/span>&#8220;Orlando Bravo told investors he was &#8216;shocked&#8217; by FTX losses: source&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Orlando Bravo \u2014 the head of one of the US\u2019s biggest tech investment firms \u2014 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arently felt he had some explaining to do this week.<\/p>\n<p>The Miami-based billionaire\u2019s firm Thoma Bravo reportedly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/stock-market-news-today-11-11-2022\/card\/private-equity-firm-thoma-bravo-a-crypto-booster-takes-a-hit-on-ftx-investment-aSp0gvzYodIU7WHCxHb1\">lost $130 million on an ill-fated investment in FTX<\/a>, the crypto exchange formerly headed by 30-year-old Sam Bankman-Fried \u2014 and held an unusual call with investors on Tuesday to own up to his mistake, sources told On The Money.<\/p>\n<p>The 51-year-old Bravo \u2014 whom <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/profile\/orlando-bravo\/\">Forbes calls \u201cWall Street\u2019s hottest dealmaker,\u201d<\/a> estimating his net worth at $7.9 billion \u2014 admitted on the call that he was \u201cshocked\u201d FTX went bankrupt, a source close to the situation said.<\/p>\n<p>Some of the fund\u2019s backers who were on the call, including the Abu Dhabi Investment Authority and the Singapore government investment vehicle GIC, were shocked too, according to a second source.<\/p>\n<p>\u201cSome investors were in disbelief that a firm of Thoma Bravo\u2019s sophistication could put millions to work in an investment where there wasn\u2019t a board or even a CFO,\u201d a source said.\u00a0<\/p>\n<p>In response, Bravo pointed out that his firm had only invested in FTX\u2019s first round of financing and did not participate in the richer second and third rounds, which valued FTX as high as $32 billion, according to sources.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/orlando-bravo-887.jpg?w=1024\" alt=\"Orlando Bravo speaking.\" class=\"wp-image-24704613\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/orlando-bravo-887.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/orlando-bravo-887.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/orlando-bravo-887.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Orlando Bravo admitted to his investors this week that he was shocked by FTX\u2019s bankruptcy filing, sources said.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>Given that FTX\u2019s value went to zero, some investors took little comfort about which funding round they\u2019d bought into, sources said. Thoma Bravo plunked down its $130 million on FTX in a July 2021 round that raised a reported $900 million, valuing the now-bankrupt firm at $20 billion. <\/p>\n<p>Thoma Bravo has earned a reputation as a conservative tech investor, mainly betting on less-sexy data and business software companies. The firm was generating a 16% internal rate of return from its 2016 buyout fund as of Sept. 30, and 34% from a 2018 fund, according to Minnesota\u2019s state pension.<\/p>\n<p>In May, however, The Post reported exclusively that Bravo wanted to invest alongside Elon Musk in his $44 billion buyout of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>. His partners were divided, so the firm backed off \u2014 and, in hindsight, dodged a major bullet. <\/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\/orlando-bravo-888.jpg?w=1024\" alt=\"Orlando Bravo speaking at a conference.\" class=\"wp-image-24704618\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/orlando-bravo-888.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/orlando-bravo-888.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/orlando-bravo-888.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bravo wanted to participate in Elon Musk\u2019s buyout of Twitter, but partners at his firm voted against the idea.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>Still, Bravo has displayed a soft spot for crypto. Overall, FTX and other crypto investments including Anchorage Digital represent about 15% of the $2 billion Thoma Bravo Growth Fund, sources said.<\/p>\n<p>On June 23 Bravo tweeted, \u201cFTX is so unique in combining innovation and rigorous operations.\u201d<\/p>\n<p>A Thoma Bravo spokesman declined to comment.\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\/18\/orlando-bravo-told-investors-he-was-shocked-by-ftx-losses-source\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Orlando Bravo told investors he was &#8216;shocked&#8217; by FTX losses: source&#8221; Orlando Bravo \u2014 the head of one of the US\u2019s biggest tech investment firms \u2014 apparently felt he had some explaining to do this week. The Miami-based billionaire\u2019s firm Thoma Bravo reportedly lost $130 million on an ill-fated investment in FTX, the crypto exchange&#8230;<\/p>\n","protected":false},"author":1,"featured_media":512302,"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\/orlando-bravo-890.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135234,89897,135779,4978,72667,70954,106544],"class_list":["post-512301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftx","tag-sam-bankman-fried","tag-11-18-22","tag-bankruptcy","tag-investors","tag-miami","tag-on-the-money"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/512301","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=512301"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/512301\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/512302"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=512301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=512301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=512301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}