Vy Capital Has Committed $700 Million to Musk’s Bid for Twitter -Breaking
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© Reuters Vy Capital Has Committed $700 Million to Musk’s Bid for Twitter- Elon Musk’s threat to cancel his Twitter (NYSE:) bid attracted many big-name backers.
- Vy Capital has committed $700 million to help finance Elon Musk’s bid for Twitter.
- Boring Co. had been an investment of the company.
It attracted the attention many prominent backers after Elon Musk threatened that he would walk away from Twitter’s bid. A Dubai-based investment company with over $5 billion in assets under management is at the top.
Vy Capital, founded by Alexander Tamas, has committed $700 million to help finance Elon Musk’s bid for Twitter. It is the largest outside investor in the deal. Vy Capital is not the only one who invested. Sequoia Capital as well Larry Ellison and Sequoia Capital were also involved in the deal.
Not only did Vy Capital’s investment top that of Brookfield Asset Management and Qatar, but the firm had previously invested in companies like Boring Co. and the cryptocurrency exchange ErisX.
Tamas is well-known for his ability to make connections with high profile people. Before establishing Vy Capital, he worked closely with billionaire Yuri Milner. After he worked on technology deals for Goldman Sachs (NYSE:) Inc. in London, he joined Milner’s investment firm in 2008. He was responsible for some highly profitable bets on businesses like Facebook Inc. (NASDAQ:) and Airbnb Inc.
Prior to his work with Goldman Sachs he was also a founder of Arma Partners. This company offered corporate-finance advisory to tech companies and investors.
He seems to be building relationships with Musk at the moment. He has also generously put money into some of Musk’s companies, like Tesla (NASDAQ:) Inc., SpaceX, and Neuralink Corp. Even one of Vy’s summer analysts is a son of Musk’s key aide, Jades Birchall.
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