Winklevoss Twins are Planning their Way into Hedge Funds
The rowers and internet entrepreneurs, Cameron Winklevoss and Tyler Winklevoss, are backing a new hedge fund run by fellow Harvard College graduate Aalap Mahadevia, people with direct knowledge told WSJ.
The fund, called Briarwood Chase Management LLC, will be the first hedge-fund investment by the pair's family office, Winklevoss Capital. Briarwood Chase currently operates out of the Winklevoss Capital offices in Manhattan's Flatiron District.
Other Winklevoss Capital investments include Hukkster, Inc., a company that alerts consumers when items are on sale; Keepy Inc., an interactive scrapbook application; and AngelList, LLC, which helps startups raise money.
The hedge-fund investment marks the Winklevosses' entry into the more traditional world of Wall Street. Olympic rowers at the 2008 Summer Games in Beijing, in 2012 they struck a reported $65 million settlement of their claim to a stake in Facebook, litigation that dated back to their design of a similar social network with Mr. Zuckerberg in 2003. That battle was made famous in the film "The Social Network."Source: Wall Street Journal