Technology
One of Bolt’s proposed new sponsors, the London Fund, has taken down its website
One-click payments tech company Bolt remains to be waiting to see if shareholders will approve a proposed funding round with founder Ryan Breslow returning as CEO. In the meantime, Axios’ Dan Primack a bit digging at The London Fund, a firm that is ready to supply Bolt with as much as $250 million in “marketing credits” as part of the proposed deal. It seems that many of the firm’s so-called portfolio corporations don’t seem like portfolio corporations in any respect.
The indisputable fact that The London Fund could have exaggerated the size of its previous investments is especially troubling provided that the proposed deal also called for Bolt to take a position in The London Fund and for Breslow to hitch its board, Axios reportedAfter Primack’s inquiries, Bolt apparently scrubbed its website to remove the investments that were at issue. The number of portfolio corporations listed on the site dropped from 20 to 13, based on Primack. The company didn’t reply to Axios’ request for comment. TechCrunch also reached out to the company.