A crypto-friendly venture capital firm has written down the entire value of its stake in FTX but assured its partners the loss will have a minimal impact on the two funds involved.
Sequoia also reassured its partners that the writing off of FTX wouldn’t have a detrimental impact on the fund, saying it accounted for less than 3% of the capital committed to it, adding:
The venture capital firm also reported to have invested $63.5 million into FTX and FTX US from its Sequoia Capital Global Equities Fund, however, the holdings represented less than 1% of the entire portfolio.
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