Morgan Creek Crypto Fund Raises $40 Mil, Backed By Two Pension Funds

Feb 12, 2019 at 18:16 Update Date :Feb 12, 2019 at 18:16 UTC

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:

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.

Also Read: tZERO Launching Next Week, Says Overstock CEO Patrick Bryne

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