Key facts
- A startup founded by Theo Gillibrand, son of Senator Kirsten Gillibrand, has secured backing from dozens of angel investors.
- Prominent investors include a crypto billionaire, hedge fund manager John Griffin, investor Mark Ein, and Anduril Industries founder Palmer Luckey.
- The company, APEC, plans to offer trading in perpetual futures linked to U.S. stocks.
- Senator Gillibrand has stated she has no involvement in her son's business.
- Several investors have previously supported Senator Gillibrand's political campaigns.
A startup founded by Theo Gillibrand, son of U.S. Senator Kirsten Gillibrand, has attracted a notable group of angel investors, including a crypto billionaire, hedge fund manager John Griffin, investor Mark Ein, and Anduril Industries founder Palmer Luckey. The company, APEC, aims to offer trading in perpetual futures linked to U.S. stocks, a financial product popularized in the crypto markets. Senator Gillibrand, a proponent of the digital asset industry, has stated she has no involvement in her son's independent business venture. Several of the investors, including Griffin and Ein, have previously donated to Senator Gillibrand's political campaigns, raising questions about the separation between her political career and her son's startup. Annica Benning, a spokesperson for Theo Gillibrand's company, confirmed the investor list and noted that most contributed between $5,000 and $10,000, describing them as longtime friends and mentors. Alex Tourk, a representative for one investor, stated the investor was proud to support the organization but could not discuss the investment. Senator Gillibrand's spokesperson, James Singer, pointed to her prior statement asserting no involvement in APEC.