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Laxman Pai, Opalesque Asia: Morgan Creek Digital, an asset management firm founded by Mark Yusko, Jason Williams and Anthony Pompliano, announced that it successfully raised more than $40m for a venture capital fund that invests across the blockchain and digital assets industry.
Morgan Creek Digital, a unit of North Carolina-based hedge fund Morgan Creek with $1.5 billion in assets under management, said that the new venture-called the Morgan Creek Blockchain Opportunities Fund-has been created specifically for investment into the digital asset space.
The two public pensions anchoring the fund are Fairfax County, Virginia's Police Officer's Retirement System and Employees' Retirement System.
Several other institutions invested including a university endowment, a hospital system, an insurance company, and a private foundation.
According to Pompliano, a former Facebook product manager, the fund originally targeted a raise of $25 million but he said the deal was oversubscribed by institutional investors.
A report in Forbes quoted Morgan Creek Digital partner Anthony Pompliano as saying: ""If there's a central party that owns 30% or more of supply then we withhold those from the index, [b]ecause we think that introduces a lot of additional risk that may not be there if it was a more decentralized network."
Pompliano told Forbes that he is confident institutional investors will be interested in the fund regardless of "whether [the assets are deeme...................... To view our full article Click here
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