Bankruptcy Move: FTX Ventures Cuts Deal with Dave for $100 Million Stake
FTX Ventures, a privately owned venture capital firm, has recently announced an arrangement with Dave, a fintech startup, in which FTX will get a $100 million stake in the company. This move is designed to help Dave grow and expand, and to provide FTX with a strategic investment opportunity in the fintech industry. Under the deal, FTX will receive a seat on Dave’s board of directors, giving them control over how the company operates. Additionally, Dave has agreed to give FTX an option to acquire additional shares in the company at a later date. This move is an example of bankruptcy maneuvering, as Dave looks for ways to raise money in order to repay its debts.