Crypto Funds Morph Into Venture Capitalists Shunned in ICO Boom

January 31, 2019

As cryptocurrency prices continue to languish, hedge funds investing in digital assets are increasingly starting to look more like venture capitalists.

Polychain Capital, which reached more than $1 billion in assets right before the 2018 market crash, just raised $175 million for a fund with a seven-year lockup period, Chief Executive Officer Olaf Carlson-Wee said. BlockTower Capital recently hired Eric Friedman to lead the firm’s venture strategy. Arca Funds is considering taking equity stakes in struggling crypto projects.   Read more...
Source: Bloomberg