Media startup, Semafor, disclosed on Wednesday that it had raised $19 million from investors.
To replace Sam Bankman-Fried’s investment in the media startup, the investors are Yahoo co-founder Jerry Yang and KKR & Co. co-founder Henry Kravis.
Semafor has been looking for a way to buy out Bankman-Fried’s investment for months after he was charged with fraud following the November bankruptcy of cryptocurrency exchange FTX.
ProPublica, an investigative journalism organisation, also agreed to refund $1.6 million from Bankman-Fried’s family foundation last year.
Semafor was founded in October by former Bloomberg Media Chief Executive Officer Justin Smith and New York Times media columnist Ben Smith.
It has raised a total of $34 million so far.