One-click checkout tech firm Bolt remains to be ready to seek out out if shareholders will log off on a proposed funding round with stipulations that founder Ryan Breslow would return as CEO. Within the meantime, Axios’ Dan Primack did some digging around on The London Fund, a agency that’s supposed to supply as much as $250 million in “advertising credit” to Bolt as a part of the proposed transaction. Seems that numerous that agency’s so-called portfolio corporations don’t look like portfolio corporations in any respect.
The truth that The London Fund may have exaggerated the extent of its prior investing is especially regarding contemplating that the proposed deal additionally known as for Bolt investing into The London Fund and Breslow becoming a member of its board, Axios reported. After Primack’s queries, The London Fund has apparently been scrubbing its net web page to take away the investments that had been in query. The variety of portfolio corporations displayed on its web site dropped from 20 to 13, in line with Primack. The agency didn’t reply to Axios’ request for remark. TechCrunch has reached out as nicely.
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