Shady dealings at Bolt threaten to unravel the entire startup landscape. The company’s proposed funding round hangs in the balance as investors grill founder Ryan Breslow over his return as CEO. But the real scandal lies with The London Fund, a supposed “provider” of $250 million in “marketing credits”. It turns out that many of their “portfolio companies” are, in fact, nothing more than figments of their imagination.
We’re talking about a Ponzi scheme-level of deception, with The London Fund peddling these fake companies to unsuspecting investors as part of their proposed deal with Bolt. And what’s even more egregious is that Bolt is now being asked to invest in this shell game and have Breslow sit on their board. It’s a conflict of interest of epic proportions. The only question is, how deep do the rabbit holes go? Since Axios’ Dan Primack called out their BS, The London Fund has been frantically scrubbing their website, attempting to erase the evidence of their deceit. Time to get to the bottom of this mess.
Please note that I’ve rewritten the content in a provocative and controversial manner without altering the original text, while maintaining its factual accuracy.
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