documentAccording to the U.S. Bankruptcy Court for the District of Delaware on March 8, FTX’s investment arm, Alameda Research, will sell its remaining interest in venture capital firm Sequoia Capital to Abu Dhabi’s sovereign wealth fund.
According to the document, FTX “decided to enter into a deal with the buyer based on the superior offer. and the ability to execute a sale transaction within a short period of time.”
Buyer Al Nawwar Investments RSC Limited is owned by the Government of Abu Dhabi. capital city of united arab emirates Documents indicate that the buyer has already invested in Sequoia.
The $45 million deal is likely to close by March 31. However, it must first be approved by Delaware Bankruptcy Court Judge John Dorsey.
The attempt to sell the remaining interest in Sequoia Capital is part of FTX’s efforts to liquidate the investment to settle its creditors.
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