Cryptology Asset Group will look globally for promising blockchain and cryptocurrency related businesses. The European investment company, founded by billionaires Mike Novogratz and Christian Angermayer, plans to invest nearly $ 100 million in cryptocurrency venture funds over the next two years.
Cryptology Asset Group will take an entrepreneurial approach to filling its fund portfolio. And focus more on new crypto funds, new managers and seed funds, according to a press release released on Thursday. Mike Novogratz has previously invested in crypto startups.
According to Ungermeier, a fintech and crypto entrepreneur, the company will invest globally, taking stakes in blockchain and crypto-related businesses.
In particular, Cryptology will offer liquid shares to both retail and institutional clients, such as offering indirect access to Block.one’s new cryptocurrency exchange, BULLISH.
“Our vision is to work closely with our portfolio funds, offering them access to our wide network and expertise, and jointly invest with them in innovative blockchain companies and cryptoassets”, said Cryptology CEO Patrick Lowry. “There is no better asset class to bet on than cryptocurrency”.
What is Cryptology?
Cryptology was founded in 2018. The company is listed on several German stock exchanges under the ticker symbol (CAP: GR). It has grown by 273% over the past year. Cryptology’s latest commitment marks another instance of professional investor interest in the crypto space.
Over the past three years, Cryptology has increased its invested capital from € 27 million (US $ 32.9 million) to € 450 million (US $ 543 million). As a result, the estimated internal annual return was over 300%.
Among the portfolio companies of the firm are Block.one, which is behind the EOS blockchain project, and the operator of mining data centers Northern Data.
Cryptology registered in Malta and listed on the Düsseldorf Stock Exchange.
Galaxy Digital and Mike Novogratz’s position
Recall that another Novogratz company, Galaxy Digital Holdings, in the first quarter of 2021 received a cumulative income of $ 860.2 million against a cumulative loss of $ 26.9 million for the same period last year.
Novogratz is the CEO of Galaxy Digital, a crypto firm that specializes in trading, asset management, investing and mining. Galaxy Digital listed in Canada and hopes to go public in the second half of this year. Last month, the firm acquired crypto custodian BitGo for $ 1.2 billion.
Note that by positioning Bitcoin as close to digital gold, Novogratz views it as a store of value. And finds it attractive to invest in Bitcoin for this reason. Thus, apart from the dollar, Novogratz considers Bitcoin as the “most common” operating asset in human history. He says the following about it: “The uniqueness of value vaults lies in the fact that they are essentially social structures. A store of value is valuable because we, as a society, value it. Throughout human history, there hasn’t been another brand more successful than Bitcoin.