Fox News reported Chelsea Clinton's latest investment soiree, Metrodora Ventures, is backing a healthcare artificial intelligence company focused on new drug discovery.
BioPhy announced this week it will launch with $4.5 million in pre-seed funding led by Metrodora.It's not clear if Metrodora Partners I, Metrodora Partners II or a combination of the funds posted the pre-seed money.
Axios reported on Chelsea Clinton's interest in starting Metrodora in 2020 and referred to her startup as a venture capital firm.
SEC filings show Metrodora's first two LP funds are pooled investment funds focusing on equity.
Neither fund checked the Venture Capital box. They also skipped private equity. They did state a portion of the proceeds could go to the General Partner for fees and incentive allocations.
Chelsea is also on the board of Clover Health which came public via a SPAC, sponsored by Chamath Palihapitiya. Investors are suing Chamath for failure to disclose material information on Clover during the go public process. SPACs are noted for the outsized proceeds that go to sponsors.
What did Chelsea learn from Chamath that she is putting to work at Metrodora?
Politicians Red and Blue love PEU and increasingly, more are one. The Carlyle Group appreciates what Chelsea's Dad for the PEU boys in their formative years. It seems right that Chelsea should play in the same financial sandbox, one where the players don't like to share.
