The London Fund, a Potential Investor in Bolt, Cleanses Its Website

Quick-payment firm Bolt is in limbo, awaiting shareholder confirmation on whether a new round of funding will proceed, which includes a condition for founder Ryan Breslow to reassume his position as CEO. Meanwhile, Axios journalist Dan Primack conducted research into The London Fund, a company reportedly poised to offer Bolt up to $250 million in “marketing credits” as part of this potential deal. It seems a number of entities claimed as part of its investment portfolio may not actually be affiliated with it.

Concerns arise as it appears The London Fund may have overstated its investment history, which is particularly troubling since the deal would also involve Bolt investing in The London Fund and Breslow taking a seat on its board, as per Axios. Following Primack’s investigative efforts, it appears The London Fund has been actively editing its website to eliminate references to questionable investments. The count of portfolio entities presented on its website has plummeted from 20 to 13, per Primack’s findings. Axios didn’t get a response from the firm when questioned, and TechCrunch has also sought to contact them.