PANews reported on October 29 that according to Cointelegraph, venture capital firm Sequoia Capital owns a 16% stake in the stablecoin platform Bridge, and the company is expected to gain more than $100 million from Stripe's $1.1 billion acquisition of Bridge. People familiar with the matter said that Sequoia Capital invested $19 million in Bridge's Series A financing last year.
Other venture capital firms set to receive hundreds of millions of dollars in windfalls from Bridge’s stake include Ribbit Capital, Haun Ventures, Index Ventures and Bedrock Fund Management. Ribbit’s stake in Bridge is about 10%, worth $100 million, while Bedrock and Index Ventures each own about 6% and Kathryn Haun’s venture capital firm owns 4%.
