One-click checkout tech firm Bolt remains to be ready to seek out out if shareholders will log off on a proposed funding spherical with stipulations that founder Ryan Breslow would return as CEO. In the meantime, Axios’ Dan Primack did some digging round on The London Fund, a agency that’s supposed to supply as much as $250 million in “advertising and marketing credit” to Bolt as a part of the proposed transaction. Turns out that a variety of that agency’s so-called portfolio firms don’t seem like portfolio firms in any respect.
The incontrovertible fact that The London Fund may have exaggerated the extent of its prior investing is especially regarding contemplating that the proposed deal additionally referred to 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 firms displayed on its web site dropped from 20 to 13, based on Primack. The agency didn’t reply to Axios’ request for remark. TechCrunch has reached out as nicely.
