Home / Technology / State pensions support the new $ 40MM blockchain fund raised by Morgan Creek State pensions support the new $ 40MM blockchain fund raised by Morgan Creek Google +
A well-known digital asset company has announced that a $ 40 million block-specific venture capital fund has been successfully closed. This is mainly due to the contributions of two public pensions.
Morgan Creek Digital, a hedge fund backed by the Morgan Creek institutional powerhouse Capital has launched what is known as the Morgan Creek Blockchain Opportunities Fund, which targets only investments in the digital asset industry.
In March of last year, Morgan Creek Digital had reportedly managed assets in excess of $ 1 billion.
19659002] The two largest contributors to the new investment pool include state pension funds, notably the Fairfax County Police and Fairfax County Employee’s pension plans.
Originally, $ 25 million was committed to capital, but nearly doubled to $ 40 million due to investors’ equity.
The new fund also includes the participation of a hospital system, a private foundation, an insurance company and a university foundation. Bitcoin as cure for the pension crisis
One could see this coming.
The rumors that public pension funds and foundations are suitable for investing in the digital asset market have spread since CNBC announced that 2018 would be published in April of last year.
Well, on Christmas Eve, founder and partner of Anthony Creek, George Creek The Pomp “Pompliano was collecting public pensions to invest in the Blockchain room with a blog in which he at length believed that Bitcoin had the potential Rescuing the US from the impending pension crisis has enabled two public pension funds in the US to invest in the space.
“The fundraising for this fund did not happen overnight, so it definitely happened before the article was written,” Pompliano told Hard Fork. “We have already invested a significant amount of the fund.
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It is reported that investors of the fund are already affiliated with Blockchain companies such as Bakkt Blockfi, Coinbase, RealBlocks, Harbor and Open Finance Data from Network, CityBlock Capital, Namebase, Good Money and Digital Assets. Pension Funds in Blockchain Are One Thing in 2019
The South Korean National Pension Fund, which was supposedly the third largest state pension fund in the world, was recently revealed to have raised two billion venture capital funds ($ 2.3 million) ) invested in four crypto currency exchanges.
Due to the regulatory taboo of the cryptocurrency in South Korea, the government at the same time made a statement in which it declared investment in the virtual system foreign exchange market by local venture capital funds as “inappropriate”.
Asked about the concerns his new customers had throughout the deal process, Pompliano said that it is mostly about usiness as usual, although it is a seminal moment in bond history.
“The concerns were not so legal, as this is just a traditional risky experience.
We have not tried this in the past, so this was the first venture capital fund we tried to raise, and we are pretty happy with the results. ”
” But the diligence process was quite exhausting – exactly what you do. That’s what you’d expect from big institutional investors like this one. ”
Anyway, it’s now a verifiable job for retirees who invest in digital assets, and we’ll see if they’re helping to supplement their retirement plans. This is Blockchain in 2019. Published February 12, 2019 – 11:00 UTC.
