Paddy Cosgrave

Yesterday.

Via Sunday Times Ireland:

Paddy Cosgrave is suing David Kelly in both Ireland and California, where the Amaranthine Fund was based. He claims Kelly, who still owns 12 per cent of the Web Summit but is no longer a director, “misled” him by secretly establishing a second fund using the Web Summit’s “brand, resources and assets”.

Kelly has counterclaimed that when his and Cosgrave’s relationship turned “toxic” after they failed to agree on the structure of a new fund, Cosgrave claimed in a text message to have kompromat of a personal nature on him, a Russian term for incriminating documentation usually associated with Cold War espionage.

…It is also claimed that Cosgrave referred in a subsequent text message to a trip by Kelly to Thailand. Kelly insists he has never visited the country. He has alleged, in turn, that Cosgrave’s “untoward behaviour” led to him resigning from the Web Summit on March 22.

Kompromat claim in row of Web Summit founder (Sunday Times)

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15 thoughts on “Komproprat”

  3. Bitnboxy

    Trip to Thailand? I think we all know what Cosgrave is implying and it ain’t pretty. Quite a serious allegation and slur if untrue and Cosgrave can’t prove it. Good job Cosgrave doesn’t have form here. One to watch.

    When good Glenstal boys go bad.

    Lol.

    1. Lilly

      Excuse my ignorance, Bitn, but what is a trip to Thailand a euphemism for?

      If ever there was a school that turned out weirdos en masse, it’s Glenstal.

    1. johnny

      -fund 1 had target of 50 million,small ball,i dont know anyone getting out bed for a fund with less than 100 million,most fund investors would be expected have 50 million min to invest,so its tiny really,its personal not business-

    2. Bitnboxy

      While Cosgrave has no doubt done well financially, one does wonder about his emotional health. He tends to get carried away, to an extent that a reasonable person would deem unhealthy, on personal vendettas and vengence crusades (with a dollop of paranoia thrown in) which point to a very grandiose sense of self.

      1. johnny

        …it used be Columbus Day here with big Italia parades in NY, now its Native American appreciation day, but we all on holidays,i can probably link the court fillings from the office, is there much interest, its two old friends who had a falling out?

        Semple-fund 2-w/o him was also only 50mio-so total under mgt is now 100,chump change in the valley, out and about this afternoon,will look later, but they closed out fund 2,so he’s arguing about what’s called carried interest or future profits, has prove a loss, which will be very hard, most likely dismissed.

        https://www.crunchbase.com/organization/amaranthine-partners/investor_financials

        ps-the two guys in SanFran have decent reps, appear sane and civilized if a little lacking in vision and size.

        1. Bitnboxy

          Yup – were it a fund of any note or significance such squabbles would be resolved swiftly and professionally so I agree wholeheartedly that this is deeply personal and messy. Add in Cosgrave’s Musk-like or dare I say Trump-like ego and grandiose sense of self and it ain’t pretty as I say.

          Cosgrave has this constant sense of being deeply wronged. His OTT and counterproductive anti-Leo crusade is more evidence. Cosgrave doesn’t give two figs about corruption and political propriety, rather he blames FG for the departure of the Web Summit from Ireland and them not giving a rats derrière about it or his “greatness”. This has caused his star to fade here and now all he gets is the odd passing mention as a Trumpy twitter crank. I think he desperately wanted more of a profile in Ireland perhaps to nurture presidential or other ambitions but for now, his profile is his twitter account. Still, he might have the last laugh yet…not sure about that though!

  8. johnny

    …if the irish MSM really wanted report on this,they would cover the (highly?)unusual fact,that its SOLE and only investor is…a shaper,yep a shaper:)

    -Navid Hadzaad Javaherian is the Global Shaper at The World Economic Forum. Additionally, Navid Hadzaad Javaherian has had 4 past jobs including Product Leader at Amazon.-

    (he’s the former founder and CEO at GoButler ​and ​Product Leader at Amazon Alexa)

    https://www.crunchbase.com/person/navid-hadzaad

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