How SurfStitch's 'wild ride' inspired a luxury car fund
SurfStitch co-founder Lex Pedersen has resurfaced as the portfolio manager of a private equity fund investing in classic automobiles, and says the spectacular rise and fall of the online surfwear retailer turned him off public markets for life.
Chrome Temple Investments, founded by Mr Pedersen in 2019, has raised $5 million from wholesale investors to kick-start its Mach 1 Fund, with ambitions of closing another $15 million as part of this "alpha round".
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