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Vy Capital Has Committed $700 Million to Musk’s Bid for Twitter

Cryptocurrency Jun 09, 2022 10:30AM ET
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© Reuters Vy Capital Has Committed $700 Million to Musk’s Bid for Twitter

  • Elon Musk’s threat to cancel his Twitter (NYSE:TWTR) bid attracted many big-name backers.
  • Vy Capital has committed $700 million to help finance Elon Musk’s bid for Twitter.
  • The firm had previously invested in companies like Boring Co.

After Elon Musk threatened to walk away from his bid for Twitter, it attracted the attention of many big-name backers. On the very top of the list is a Dubai-based investment firm with more than $5 billion under management.

Vy Capital, founded by Alexander Tamas, has committed $700 million to help finance Elon Musk’s bid for Twitter. This makes it the biggest outside contributor in the deal. In addition to Vy Capital, people like Larry Ellison and Sequoia Capital also invested in the deal.

Not only did Vy Capital’s investment top that of Brookfield Asset Management and Qatar, but the firm had previously invested in companies like Boring Co. and the cryptocurrency exchange ErisX.

Tamas has a long history of making connections with big names. He worked very closely with billionaire Yuri Milner before setting up Vy Capital. After he worked on technology deals for Goldman Sachs (NYSE:GS) Inc. in London, he joined Milner’s investment firm in 2008. Here, he was in charge of some very lucrative bets on companies like Airbnb Inc. and Facebook (NASDAQ:META).

Before his involvement with Goldman Sachs, he was one of the founding members of Arma Partners. The company provided corporate-finance advice to companies as well as investors in the tech space.

At the moment, he seems to be forming links with Musk. He has also generously put money into some of Musk’s companies, like Tesla (NASDAQ:TSLA) Inc., SpaceX, and Neuralink Corp. Even one of Vy’s summer analysts is a son of Musk’s key aide, Jades Birchall.

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Vy Capital Has Committed $700 Million to Musk’s Bid for Twitter
 

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