Investment management firm CoVenture said it was preparing to discuss restructuring options for Benitago, a struggling e-commerce startup it funded, when it was surprised to learn the business which rolls up popular brands sold on Amazon.com Inc. instead filed bankruptcy, Bloomberg News reported. CoVenture lawyer Oscar Pinkas said on Friday during a bankruptcy hearing in New York the firm consented to waivers and forbearances on a loan it provided Benitago to aid the startup’s turnaround efforts. CoVenture invested in Benitago and is owed roughly $85 million in principal and deferred interest payments on its loan, according to court documents.
