Morgan Creek raises $61 Million for Blockchain Fund

Hey ninjas, how’s the trading going? The crypto market is back to trading sideways with the majority of the top cryptocurrencies reporting losses in the last 24 hours. The largest cryptocurrency Bitcoin dipped below $8,000 once again and is currently trading at $7,971.

BTC, as well as top altcoins Ether and XRP, are reporting losses on the day, BTC is down 3% while Ether and XRP are down 4.34% and 3.14% respectively. Ether trading at $166 and XRP is trading at $0.28 at press time.

Morgan Creek cryptocurrency asset management firm has raised over $61 million for its blockchain fund. The firm submitted a filing to the United States Securities and Exchange Commission (SEC) on the 18th of October.

The filing (Form D) is of its second blockchain fund requesting to be exempted for the offering. Anthony Pompliano, co-founder of Morgan Creek spoke on the firm's new funding.

He stated that the firm aims to raise $250 million, the next round is scheduled to take place in December 2019 while the final round will hold at the end of the first quarter of 2020, according to the filing the fund started its first offering on the 16th of October.

Pompliano stated that two major investors doubled their investments. He was asked for the names of the participating public funds, he identified them Fairfax Country Employee Retirement pensions and Fairfax Country Police Pension.

Pompliano stated that the firm will continue to with the strategy used in the first round and Morgan Creek is looking for entrepreneurs who need support building their businesses.

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