Chamath Palihapitiya has sold down around 15% of his position in U.S. online lending company SoFi Technologies Inc this week, the venture investor said in a tweet on Thursday.
Palihapitiya, founder and chief executive officer of Social Capital, said the sale was to build up cash reserves and fund recent investments in companies such as battery materials firm Mitra Chem, fintech startup Spectral Finance and blockchain infrastructure company Syndica.
In March, Palihapitiya cashed out his remaining personal stake in space tourism company Virgin Galactic Holdings Inc , but continues to hold a stake through an investment firm that is in partnership with British investor Ian Osborne.Reporting by Sohini Podder in Bengaluru; Editing by Sherry Jacob-PhillipsSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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