Sequoia to make $100M windfall from Stripe’s Bridge acquisition: Report
Sequoia Capital owns 16% of Bridge, which is set to be acquired by payments platform Stripe for $1.1 billion.
Venture capital firm Sequoia Capital, which owns 16% of stablecoin platform Bridge, could rake in over $100 million from Stripe’s $1.1 billion acquisition deal of the firm.
Sequoia made a $19 million investment in the crypto firm’s Series A round, which took place within the last year, Bloomberg reported on Oct. 29, citing people familiar with the matter.
Other VC firms are also set for hundreds of millions of dollars in windfall from their stakes in Bridge, including Ribbit Capital, Haun Ventures, Index Ventures, and Bedrock Fund Management.
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Author: Jesse Coghlan
