Josh Raffaelli, who has deep roots as a Silicon Valley investor and has backed plenty of Elon Musk firms, is suing his former employer, the huge trillion-dollar AUM Brookfield Asset Administration, stories The New York Occasions.
A lot of Raffaelli’s grievance considerations how Brookfield lined pandemic-related actual property losses and alleges the corporate fired him after he filed a whistleblower grievance on the SEC. His go well with makes allegations like fraud and bribery, whereas Brookfield vehemently denies any wrongdoing, it instructed The Occasions.
In February, Brookfield quietly shuttered the enterprise capital unit run by Raffaelli and rolled some belongings into one other unit, Bloomberg reported on the time. One in all Raffaelli’s complaints within the go well with is that Brookfield didn’t purchase as a lot inventory in Musk-owned firms as he had secured the flexibility to purchase.
Raffaelli had offers to purchase into Musk firms like SpaceX, xAI, and the Boring Firm, the go well with alleges. And his Brookfield fund was a giant backer of Musk’s takeover of Twitter, Bloomberg reported.
The lawsuit is a really public battle for Raffaelli, who beforehand labored as a companion on the VC agency then often called Draper Fisher Jurvetson. (At present, it’s a set of funds.) Whereas at DFJ, Brookfield helped that agency make investments into Musk firms like SolarCity (acquired by Tesla), SpaceX, and Tesla.