(Reuters) – Venture investor Chamath Palihapitiya confirmed on Saturday in a tweet that he released some capital from the sale of Virgin Galactic Holdings Inc shares to invest in scale without affecting his pace and strategic vision.
“I hated doing this, but my balance sheet has shrunk by almost $ 2 billion this week,” he mentioned in the tweet https://twitter.com/chamath/status/1368247776216117248, adding a sad emoji.
In the long topic of the tweet, mentioning the review and remodeling of everything he invested in, Palihapitiya also clarified that he did not sell any shares of any other SPAC he launched.
A regulatory process showed that Palihapitiya sold 6.2 million shares of the space tourism company that helped go public in 2019, for about $ 213 million.
In a statement sent via email through a spokesman on Friday, Palihapitiya said he would redirect funds from the sale of shares to a “big investment” focused on fighting climate change.
Virgin Galactic did not immediately respond to the request for comment.
(Reporting by Maria Ponnezhath in Bengaluru; Editing by David Gregorio)