Morgan Creek Digital, a United States digital asset management firm, has successfully managed to close a $40 million funding round from investors, including two pension funds, according to reports circulating on Feb.12.
The two pension funds – Fairfax County Police and Fairfax County Employees Pension Plans, among numerous investors, have invested a small portion in the firm’s $40 million funding round. The funding round purportedly, intended to raise $25 million, but due to renewed investor interest, touched the $40 million mark.
The new initiative-cum-capital fund named ‘Morgan Creek Blockchain Opportunities Fund’, was launched by the firm’s CEO, Anthony Pompliano, who tweeted after the funding round:
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
Pompilano’s firm Morgan Creek Digital had also launched it’s Digital Asset Index Fund last year.
In a blog post earlier this year, Pompliano had stated how the Bitcoin could be a used a potential future resource pool in the pension industry.
During his interview with Bloomberg, Pompliano said:
“There’s a belief in the institutional world that if the industry will be around for a long time, it will be very valuable.
He further stated:
“The smart money is not distracted by price but looks at the long-term trends, and believes they’re betting on innovation as a great way to deliver risk-mitigated returns.’’
Pompiliano, however, refused to give further details on the project at this point in time.