Wednesday, June 12, 2024

SkyBridge targets $50m for new Unicorn Recovery Fund

Anthony Scaramucci’s SkyBridge Capital is looking to raise $50m for a new fund which would acquire holdings in between 10 and 15 distressed companies, according to an e-mail to investors reported by Reuters.

The Unicorn Recovery Fund will have an expected closing on 30 April.

Scaramucci is rebuilding the firm after the bankruptcy of FTX, which had agreed to acquire a stake in the business, combined with crypto losses which hit performance last year.

He has been bullish on hopes of a rebound in crypto and for the prospects for his business after the FTX bankruptcy.