Home News Citi veteran launched $1.5B crypto fund

Citi veteran launched $1.5B crypto fund


Citi veteran launched $1.5B crypto fund. Founded by Matt Zhang, former head of structured products trading at Citi, Hivemind Capital Partners has launched a $1.5 billion fund.

Among the directions are infrastructure solutions, blockchain protocols, open Internet, programmable money and metaverses.

In addition to investing in crypto companies, the New York-based firm will trade digital assets and work with the Play-to-Earn concept.

The infrastructure that institutions need

Zhang said that their mission is to provide capital to those who determine the vector of development of the industry.

He also added that Hivemind offers an individual crypto investment platform with the infrastructure that institutions need for risk management, regulatory compliance and security.

Furthermore, the strategic partner for the creation of the Hivemind ecosystem has chosen Algorand. Moreover, the firm is discussing partnerships with teams of other first-level blockchains.

Previous crypto funds

Recall that in November, Pantera Capital raised $600 million in a new crypto fund. Institutional investors provided 75% of this amount, writes The Information. Thus, the high level of participation of institutional investors contrasts with the launch of previous structures.

In the same month, Paradigm formed fund for $2.5 billion. “The fund and its scale are symptomatic of crypto being the most exciting future in technology”. Paradigm co-founders Fred Ahrsam and Matt Huang said in a Nov. 15 release.

Earlier in June, another venture capital company Andreessen Horowitz (a16z) formed a third crypto fund with assets of $2.2 billion. In the blog, representatives of a16z noted the revolutionary potential of blockchain and cryptocurrencies, their ability to change all aspects of human life.

a16z is confident that the new technology will restore trust and create a new type of management based on collective decision-making. Also, the fund is financing startups at all stages of development.

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