TechFlow news: Zhu Su, founder of Three Arrows Capital, posted on Twitter a statement from a former director of Three Arrows Capital regarding the liquidation of assets held by DeFiance Capital.
The statement says that funds managed by DeFiance Capital and Starry Night Capital under Three Arrows Capital have always been kept separate from other capital pools. The former director believes these two funds should be treated as independent entities, and that Three Arrows Capital was not actively managing their assets during operations.
The statement criticizes Teneo, the current liquidator of Three Arrows Capital, for overstepping its authority by attempting to seize funds belonging to other investors.
The former director argues that from both technical and legal standpoints, the assets of DeFiance Capital and Starry Night Capital belong to the fund investors of Three Arrows Capital, and that these funds are currently undergoing liquidation. The statement expresses hope that legal proceedings will ultimately allow investors in the two funds to retain ownership of their assets.
