• The $40 million fund will be invested across the Blockchain industry and will be the first ever in this space to have involvement of U.S pension funds
• Many Major investors back the fund

Morgan Creek Digital, an asset management firm founded by Jason Williams, Anthony pompliano and Mark Yuso, announced on Tuesday that it had raised a whooping $40 million for a venture capital fund that lets you invest across the Blockchain and digital asset industry.  Anthony pompliano, former Facebook employee turned entrepreneur said on twitter:

“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.”

Institutional money is rolling in

According to the announcement the prime investors of the fund are Fairfax County Employee’s and Fairfax County Police pension plans. Both pensions manage an asset portfolio of around $1.2 billion and are also the first ever public retirement fund to invest in Cryptocurrencies.

As reported on Bloomberg, Anthony pompliano said that the fund was already involved with notable companies like Bakkt and Coinbase and would now invest in other Blockchain startups. The terms of investment hasn’t been disclosed to the public yet. Also reports are surfacing that the fund would also retain a portion of it’s value in Cryptocurrencies apart from equity investments in crypto-based companies. No-coiners or critics often mention the absence of public pension funds in the virtual currency zone. Even various analysts from JPMorgan stated this fact in their narratives. This is really a significant event for the whole crypto industry.

Crypto as a hedge against a pension crisis

Earlier in 2018, the Morgan creek digital partner called on public pension funds to be pivoted towards the Cryptocurrency and Blockchain technology market. According to Anthony, cryptos could serve as a viable hedge for such funds against what he calls an “impending US pension crisis.” During his interview with Bloomberg Pompliano also told:

“ There’s a belief in the institutional world that if the industry will be around for a long time, it will be very valuable. The smart money is not distracted by price but looks at the longterm trends, and believes they’re betting on innovation as a great way to deliver risk-mitigated returns.”

According to Anthony, this is a major win for the Cryptocurrency community and industry as a whole. This might also be something that brings Cryptocurrencies to the eyes of other mainstream investors. Also this is the first ever case where U.S pension funds are involved in the Cryptocurrency space.