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DeFiance Capital Says it is Independent from Three Arrows Capital

ByLouis Adams

Jul 18, 2022
Reading time: < 1 minute

Venture capital firm DeFiance Capital, which was previously positioned as 3AC’s sub-fund, has just declared its operational independence from hedge fund Three Arrows Capital (3AC), which has recently filed for bankruptcy.

According to the document, DeFiance Capital founder Arthur Cheong registered a firm “completely independent” from Three Arrows Capital in 2020. A similar definition appears on the company’s website.

Per the message:

“Arthur has never been associated with or involved in the management of 3AC and/or its affiliates. He did not have access to the financial statements and documents of the hedge fund and became aware of his solvency problems in mid-June 2022, when the news was spread by the media.”

DeFiance Capital claims it was a counterparty to 3AC and its liquidation impacted the business, causing damage.