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Silver Lake will give Whitesell $250 million in seed capital to put into his new business, according to a filing with the U.S.

In December 2023, with seed capital from an “anti-woke” venture capital firm and in collaboration with his college roommate and co-founder of the Daily Caller, Neil Patel, and the former executive producer of his Fox News show, Justin Wells, Carlson launched a website called the “Tucker Carlson Network,” or TCN—not to be confused with the cable network TCM, which also likes to present things in black and white.

Belden said that a large institutional investor has provided seed capital of $50 million for the new ETF.

Mr. Sohnlein said Mr. Rush “had probably lost money,” having kicked in on every round of investment and supplied much of the seed capital.

By 2008, some 36 former employees had founded their own funds and managed $100 billion in assets, with Robertson extending seed capital to many of them, journalist Sebastian Mallaby wrote in his book "More Money Than God".