At least two major equity investors backing Elon Musk’s deal to buy Twitter plan to go ahead with their funding, as the billionaire moves toward closing the deal after dramatically reversing his position on it.
Sequoia Capital, which has committed $800 million to the deal, plans to keep its funding in place, according to a person familiar with the matter. Meanwhile, a spokesperson for cryptocurrency exchange Binance, which is slated to contribute $500 million to the deal, told The Information that its commitment hasn’t changed. Sequoia’s plans have not previously been reported.
