TechFlow news, November 25 — Berachain co-founder Smokey the Bera responded on social media to reports claiming "Berachain allegedly granted Nova Digital a $25 million refund right in its Series B funding round," calling the report "incomplete and inaccurate."
Smokey the Bera clarified the investment agreement details with Brevan Howard: Brevan Howard, through its Abu Dhabi office's Nova fund, co-led Berachain’s Series B round one year ago under the same terms as other investors. Nova’s compliance team requested additional clauses to mitigate risks related to TGE failure and potential delisting, leading both parties to sign an ancillary commercial agreement, including commitments to provide liquidity post-network launch.
Smokey the Bera emphasized that Nova remains one of Berachain’s largest token holders, holding locked BERA tokens from the Series B round as well as liquid BERA tokens acquired from public markets, and has continued accumulating amid market volatility.
