Hours ago, Sequoia Capital announced the total loss of their investment in the now apparently bankrupt FTX.
In a statement to LPs (read: investors), the fund stated they are currently valuing their FTX investment at $0.
The statement was republished to the firm’s Twitter account:
Across 2 funds, Sequoia Capital has invested over $213 Million in FTX.
Sequoia noted that, despite the total loss of the FTX investment, the position accounted for only a minor aspect of the total funds.
Other investors in FTX include Tiger Global, SoftBank’s Vision Fund, and Tom Brady.
This is a developing story. More information will be published as it is made available.