Pomp’s Morgan Creek Raises $61M For Blockchain Fund, Targets $250M

Bitcoin News

Anthony Pompliano’s Morgan Creek Capital Management firm established a blockchain fund to explore opportunities using distributed ledgers.

On Oct. 18, the cryptocurrency asset management firm Morgan Creek submitted a filling for its second blockchain fund to the United States Securities and Exchange Commission (SEC) and has so far raised nearly $61 million from 11 investors.

The filing — a Form D, that requests an exemption for the offering — shows that the fund started its first offering on Oct. 16 and is ongoing.

In an exclusive interview with Cointelegraph, Morgan Creek co-founder Anthony Pompliano said that the ultimate goal of the fund is to raise $250 million, with a new funding round in December of this year and a final round planned for the end of the first quarter of 2020.

Pompliano told Cointelegraph that two key investors more than doubled their investment. When asked about the names of the public pension funds that have participated, Pompliano identified them Fairfax County Police Pension and Fairfax County Employee Retirement Pensions, adding:

“We also have what we believe is the first hospital system in the United States to participate in a dedicated blockchain fund called WakeMed.”

The Bitcoin (BTC) maximalist stated that Morgan Creek will continue to use the same strategy they had in the first fund and are looking for entrepreneurs who are in the initial stage of building their companies to support them with the resources raised.

Bitcoin to $100,000 by the year 2021

Cointelegraph reported in July that Mark Yusko, founder, CEO and CIO of Morgan Creek Capital Management, stated that the crypto markets are finding themselves in the next parabolic move, adding:

“That will probably take us into the $30,000 level before we get another little correction […] the path to $100,000 by 2021 is really quite easy to draw out.”

Yusko has previously been very bullish on Bitcoin, going on record to predict a $400,000 high for the cryptocurrency at some point in the future.

Daniel Jimenez of Cointelegraph en Español contributed to this article.

Products You May Like

Articles You May Like

Mark Cuban shares ‘a secret that all successful people know’: If someone says they can make you rich, ‘they’re lying’
Stocks making the biggest moves midday: Instacart, Disney, Planet Fitness, Rackspace and more
UK inflation dips to 6.7%, below expectations as food prices ease
Weekly mortgage demand increases, driven by a strange surge in refinancing
Hollywood is paying a steep price for never really figuring out the streaming model

Leave a Reply

Your email address will not be published. Required fields are marked *