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An investment firm co-founded by Bitcoin billionaire Mike Novogratz has announced that it will invest $ 100 million in crypto-related venture capital funds over the next two years.
Cryptology Asset Group, a Malta-based company with 450 million euros ($ 548 million) in assets, intends to focus on first-time funds and emerging managers with stakes in related companies. to crypto or digital assets, according to a statement released Thursday.
A publicly traded holding company for blockchain-related assets in Europe, Cryptology’s portfolio includes startups such as Block.one, Northern Data and Iconic Funds.
“We are at the very beginning of the crypto revolution and are striving to become one of the world’s leading investors in this very nascent asset class,” co-founder Christian Angermayer said in the statement.
Novogratz is the Managing Director of New York-based Galaxy Digital LP, which is involved in a number of crypto-related businesses, including mining, helping companies make acquisitions and investing in startups. The company hopes to be listed on a U.S. stock exchange in the second half of the year and acquired crypto custodian BitGo for $ 1.2 billion in May.
Read more: Novogratz Says Bitcoin May Be Under Pressure For Weeks
In an interview with Bloomberg TV last month, Novogratz said he expected Bitcoin and Ethereum to remain limited to the range after their recent crisis. He also said the financial world is undergoing “a once-in-a-generation shift in this evolution of the crypto blockchain.”
Before he’s here, he’s on the Bloomberg terminal.
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