The asset management giant has reportedly closed Brookfield Growth, and Josh Raffaelli, managing partner of the division, has left the firm. The venture capital business had contributed US$250 million to Elon Musk’s Twitter buyout in 2022, the largest cheque the firm had written at the time. Brookfield did not respond by publication time. (Bloomberg)
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The asset management giant has reportedly closed Brookfield Growth, and Josh Raffaelli, managing partner of the division, has left the firm. The venture capital business had contributed US$250 million to Elon Musk’s Twitter buyout in 2022, the largest cheque the firm had written at the time. Brookfield did not respond by publication time. (Bloomberg)
Talking point: Brookfield closed its second growth fund in 2021 with US$516 million and was in the process of raising a third. The firm is reportedly moving some of its venture portfolio over to Pinegrove Capital, an investment vehicle Brookfield launched in 2023 with Silicon Valley-based Sequoia Heritage. Pinegrove, which initially aimed to invest in discounted startups whose valuations had dropped, bought Silicon Valley Bank’s venture capital business last year. The business will now house all of Brookfield’s venture investments, a spokesperson told Bloomberg.
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