Morgan Creek Digital Raises Over $ 40 Million for a Venture Capital Fund

Morgan Creek Digital, an badet management company founded by Mark Yusko, Jason Williams and Anthony Pompliano, announced Tuesday that it has successfully raised more than $ 40 million for a venture capital fund that invests in the financial sector. distribution channels and digital badets.

According to Pompliano, a former Facebook product manager, the fund originally targeted only $ 25 million, but was oversubscribed by institutional investors. The fund consists of two public pensions and several other invested institutions, including a university endowment fund, a hospital system, an insurance company and a private foundation.

The fund will invest primarily in shares in start-up companies active in the blockchain business, but will also invest in security tokens and cryptocurrencies.

Katherine Molnar, Chief Investment Officer for the Fairfax County Police Officer Pension System, said it is important "to be opportunistic and [is] excited to participate in [the blockchain industry] because of the attractive asymmetrical return profile it represents. "

The two pension funds that have invested in the Morgan Creek fund are managing more than $ 5 billion in badets, which means investing in the new Morgan Creek fund will be a very small position for them. Pompliano told CoinDesk that to his knowledge, no other blockchain-focused fund had raised funds from a public pension. Jason Williams said that he thought that "many of the most important and valuable companies of tomorrow will be built using [blockchain] Technology."