FTX Ventures acquired a 30% interest in alternative investment firm SkyBridge Capital, a SkyBridge spokeswoman said in an email.
The financial terms of the transaction have not been disclosed, according to a SkyBridge news release Friday.
An FTX spokesman confirmed the deal has closed.
The investment by FTX Ventures, a multistage venture capital fund, will provide SkyBridge "additional working capital to fund growth initiatives and new product launches," the news release said.
In addition, SkyBridge will use a portion of the proceeds to buy $40 million in cryptocurrencies to "hold on its corporate balance sheet as a long-term investment," the release added.
SkyBridge said in the release that it "remains profitable and debt-free, notwithstanding market conditions."
The transaction represents the latest collaboration between SkyBridge and FTX, following the multiyear partnership to sponsor global SALT (SkyBridge Alternatives) Conference in North America, Asia and the Middle East, and co-present Crypto Bahamas, the institutional digital assets conference that was launched in April this year.
The two firms also plan to "expand their collaboration on venture and digital asset investing across current and future product offerings."
The founder and managing partner of SkyBridge, Anthony Scaramucci, added in the release: "We will remain a diversified asset management firm, while investing heavily in blockchain."
Mr. Scaramucci served as the White House director of communications under President Donald Trump from July 21 to July 31, 2017.
SkyBridge had about $2.5 billion in assets under management, including more than $800 million in digital assets, as of June 30.
