It is hard to know quite how to describe Apeira Capital Advisors, an investment firm that was launched in early 2020 and has just taken its first position, investing in a $200 million Series E funding round for San Francisco foodtech company GrubMarket.
Moves such as that make Apeira look like a classic venture capital fund, but by also designing bespoke derivative technology to short to short private companies that it thinks are overvalued, it looks more like a hedge fund.
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