Altcoin News: Pension Funds Invested $50 Million in Morgan Creek’s New Blockchain Fund
October 23, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
Crypto investment company Morgan Creek Digital raised the first tranche of $60.9 million for its new $250 million fund, CoinDesk writes.
According to the company, its investors were the same organizations as in the first fund, including two public pension funds, which increased the size of investments by more than 2 times. It was also supported by WakeMed Health and Hospitals, an insurance company and a university that invested the remaining $10 million.
Morgan Creek Digital partner Anthony Pompliano said the company decided to raise funds in several stages and has not yet set a deadline for fundraising.
“We hear folks saying institutions aren’t interested, but this initial close along with the conversations we’re having with tens of other institutions, shows that there is no lack of interest,” he said.
The second fund will focus on equity investments in start-ups that are at the initial stages of development, as well as the first, which invested assets in such “blockchain-infrastructure” companies as Bitwise and BlockFi.
Morgan Creek raised $40 million for its first fund, although it initially focused on $25 million. In total, the company currently manages assets worth more than $100 million.
Author: Marko Vidrih
