The Winklevoss twins, who are famous for their legal troubles with Facebook’s Mark Zuckerberg, is backing a new hedge fund run by a Harvard graduate.
The Wall Street Journal reported that Cameron and Tyler Winklevoss’ Winklevoss Capital made an undisclosed investment in Aalap Mahadevia’s Briarwood Chase Management, which is expected to start trading with about $60 million this quarter. This is the first hedge fund investment by the pair’s family office.
Briarwood Chase will focus mostly on global so-called microcap stocks, or those with a market capitalization of between $50 million and $300 million.
The twins’ battle with Zuckerbeg, which was made famous in“The Social Network," reportedly struck a $65 million settlement of their claim to a stake in Facebook. The pair used the settlement money to launch Winklevoss Capital.