Venture capital firm Morgan Creek Capital has launched a cryptocurrency-oriented Fund and raised $40 million under its operation. It is noteworthy that the main investors were public pension funds.
This morning our team at Morgan Creek Digital announced a new $40 million crypto venture fund anchored by two public pensions.
The institutions aren’t coming.
They’re already here. 🚀
— Pomp 🌪 (@APompliano) February 12, 2019.
So, funds for capital management officers ($1.45 billion) and other government officials ($4,25 mlrd) County of Fairfax, Virginia, supported Morgan Creek Blockchain Opportunities Fund. Among other investors that Fund the University, hospital network, insurance company and another private Foundation.
Morgan Creek”s new $40M blockchain venture fund is backed by two US public pension funds. We spoke with founder and partner @APompliano for the full scoop: https://t.co/Z4Y054I1MD
— Hard Fork (@HardFork) February 12, 2019.
“As far as I know, no one [in the cryptocurrency industry] did not attract funding from public pension funds”, — said the founder of Morgan Creek Anthony Pompliano.
The new Fund will focus on led-rounds for cryptocurrency startups, but in some cases will invest in projects on the basis of native tokens. At the same time, the Fund will also hold a small portfolio of digital assets.
I should add that Morgan Creek Blockchain Opportunities Fund has already signed a deal with Coinbase, Bakkt, BlockFi and TrustToken.
Earlier, Morgan Creek suggested that critics of digital assets bet $1 million in the firm believe that cryptocurrencies will surpass the dynamics of the stock index S&P 500 for 10 years.