Sequoia Capital expected to receive more than $100 million from Stripe's acquisition of Bridge
venture capital firm Sequoia Capital owns 16% of the stablecoin platform Bridge and is expected to earn over $100 million from Stripe's $1.1 billion acquisition of Bridge. Insiders say Sequoia Capital invested $19 million in Bridge's Series A financing last year.
Other venture capital firms will also receive unexpected windfalls from their shares in Bridge, including Ribbit Capital, Haun Ventures, Index Ventures, and Bedrock Fund Management. Ribbit holds approximately 10% of Bridge's shares, worth $100 million, while Bedrock and Index Ventures each hold approximately 6% of the shares, and Kathryn Haun's venture capital firm holds 4%.
Previously, it was reported that Stripe acquired the stablecoin payment platform Bridge for $1.1 billion, marking the largest acquisition in the cryptocurrency industry to date.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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