Josh Raffaelli, who has lengthy roots as a Silicon Valley investor and has backed quite a lot of Elon Musk firms, is suing his former employer, the huge trillion-dollar AUM Brookfield Asset Management, studies the New York Times.
Much of Raffaelli’s criticism issues how Brookfield coated pandemic-related actual property losses and alleges the corporate fired him after he filed a whistleblower criticism on the SEC. His go well with makes allegations like fraud and bribery, whereas Brookfield vehemently denies any wrongdoing, it advised the Times.
In February, Brookfield quietly shuttered the enterprise capital unit run by Raffaelli and rolled some property into one other unit, Bloomberg reported on the time. One of Raffaelli’s complaints within the go well with is that Brookfield didn’t purchase as a lot inventory in Musk-owned firms as he had secured the flexibility to purchase.
Raffaelli had offers to purchase into Musk firms like SpaceX, xAI and the Boring Company, the go well with alleges. Raffaelli’s Brookfield fund was, nonetheless, a giant backer of Musk’s takeover of Twitter, Bloomberg reported.
The lawsuit is a really public battle for Raffaelli, who beforehand labored as a associate on the VC agency then often known as Draper Fisher Jurvetson. (Today, it’s a group of funds.) While at DFJ, Brookfield helped that agency’s make investments into Musk firms like SolarCity (acquired by Tesla), SpaceX, and Tesla.
