Apple Tree says funding dispute with Rybolovlev could cause ‘collapse’ of some portfolio companies

A long-simmering dispute between Apple Tree Partners and its financial backer, Dmitry Rybolovlev, has reached the boiling point. The VC has sued Rybolovlev in the Court of Chancery of Delaware demanding that he meet a $109 million capital call.

In litigation filed in the Cayman Islands, Rybolovlev, a Russian national and citizen of Cyprus, stated that he has invested $2.6 billion in Apple Tree and has no obligation to provide additional funds. He accused Apple Tree Partners of mismanagement. ...