Jun. 19 at 1:42 PM
$PCT I don't understand Sylebra's affinity for PureCycle and why they don't seem to recognize any red flags. Sylebra doesn't seem to deploy capital very well.
It looks like Sylebra manages money for a number of clients ranging from sovereign wealth funds to endowment funds.
Sylebra apparently invested about
$540M into PureCycle and that investment has lost about 70% to now be worth
$160M. Obviously this is before Sylebra's upcoming
$300M investment in PureCycle's series B preferred shares. Investing another
$300M keeps the ball up in the air for another few years whereas no investment would have meant that PureCycle would probably be out of cash and out of business before the end of the year. Maybe that's why Sylebra threw more good money after bad, to stave off the inevitable for a while.
With about 10% of Sylebra's money invested in PureCycle, and soon to be significantly higher, Sylebra's fate seems somewhat tied to PureCycle's.
