Josh Raffaelli, who has deep roots as a Silicon Valley investor and has backed quite a lot of Elon Musk corporations, is suing his former employer, the large trillion-dollar AUM Brookfield Asset Administration, experiences The New York Occasions.
A lot of Raffaelli’s criticism issues how Brookfield lined pandemic-related actual property losses and alleges the corporate fired him after he filed a whistleblower criticism on the SEC. His swimsuit makes allegations like fraud and bribery, whereas Brookfield vehemently denies any wrongdoing, it informed 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 among Raffaelli’s complaints within the swimsuit is that Brookfield didn’t purchase as a lot inventory in Musk-owned corporations as he had secured the power to purchase.
Raffaelli had offers to purchase into Musk corporations like SpaceX, xAI, and the Boring Firm, the swimsuit alleges. And his Brookfield fund was an enormous backer of Musk’s takeover of Twitter, Bloomberg reported.
The lawsuit is a really public battle for Raffaelli, who beforehand labored as a accomplice on the VC agency then generally known as Draper Fisher Jurvetson. (At the moment, it’s a set of funds.) Whereas at DFJ, Brookfield helped that agency make investments into Musk corporations like SolarCity (acquired by Tesla), SpaceX, and Tesla.
