Apeira Capital hunts VC returns from both rising and falling valuations

A new venture capital investment firm targeting private technology companies is deploying a multi-directional strategy that it hopes will make money from start-ups that are overvalued as well those on the rise.

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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