He taught at MIT, worked at Morgan Stanley, and convinced Bill Ackman and Galaxy to back his $200 million crypto fund by his early 30s. His future is now in jeopardy
How much capital did Yida Gao raise for Shima Capital, and who were some of the notable investors?
Yida Gao raised $200 million for Shima Capital. Some of the notable investors include finance heavyweights like Bill Ackman and prominent crypto firms including Dragonfly and Galaxy.
What role was Yida Gao appointed to at MIT's business school, and who had he replaced in this position?
Yida Gao was appointed to teach a graduate course at MIT's business school on crypto and finance. He replaced Gary Gensler, the former chairman of the U.S. Securities and Exchange Commission, in this position.
Why has Shima Capital struggled to raise further capital despite the booming market, as mentioned in the article?
Shima Capital has struggled to raise further capital despite the booming market due to several factors. These include the poor performance and behavior of its founder, Yida Gao, who has been accused of setting up a secret offshore entity and funneling assets belonging to the venture fund into a corporation set up under his own name. This behavior appears to violate SEC investor protection rules and has left Shima Capital struggling to raise further capital. Additionally, the firm has experienced an exodus of top employees, further impacting its ability to attract investors.