Tribe Capital, the venture capital firm launched by Arjun Sethi, Jonathan Hsu and Ted Maidenberg, a trio of former Social Capital partners, is reportedly raising $200 million for its first flagship venture capital fund.
This story is developing. We’ve reached out to the firm for comment.
Tribe was said to be focusing on cryptocurrency and blockchain startups, recently leading the $22.7 million round for crypto trading platform SFOX. Though The Wall Street Journal is reporting today that capital from the fund will be deployed across multiple industries.
The news is a kick in the gut for former Facebook executive Chamath Palihapitiya‘s venture capital firm Social Capital, which has been bleeding partners as of late — so much so that the firm has removed the page on its website that listed its team.