Former SEC chief Jay Clayton joins Electric Capital as advisor

Former SEC chief Jay Clayton joins Electric Capital as advisor

Former SEC Chairman Jay Clayton Joins Electric Capital as Advisor

Crypto-focused firm Electric Capital has hired former SEC Chairman Jay Clayton as an advisor. This is stated in a press release.

Together with the ex-official, Meta Vice President and Head of Research Pratiti Raychoudhury and former member of the Fed Board of Governors Kevin Walsh came to the company for a similar position.

< p>Electric Capital noted that experts were invited to support Web3 projects and their founders.

“Creating companies and protocols in Web3 is incredibly difficult. […] Electric consultants are the world's leading experts […] and are ready to help portfolio projects cope with problems,” the message says.

Founded in 2018, Electric Capital invested in Bitwise , dYdX, Gitcoin, Immunefi, NEAR, Syndicate and other well-known projects.

In August 2020, the firm raised $110 million to launch its second fund. In the spring of 2022, she raised $1 billion to invest in various startups.

What is Web3?

December 23, 2020, Clayton stepped down as chairman of the SEC, held since May 4, 2017. During his work, the regulator obtained orders for the payment of fines and refunds of funds in the amount of more than $14 billion and returned $3.5 billion to investors. -One River Asset Management Fund.

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