In Industry First, Crypto Asset Manager Morgan Creek Raises Money from Pension Funds

In Industry First, Crypto Asset Manager Morgan Creek Raises Money from Pension Funds
On Tuesday, February 12, Morgan Creek became the first company in the crypto sector to secure massive funding from pension funds, reports Bloomberg. Two separate pension funds of Virginia’s Fairfox County will be pouring investment into the Morgan Creek Blockchain Opportunities Fund. These two funds include the Employees’ Retirement System and Police Officers’ Retirement System.
Cryptocurrency asset management company Morgan Creek has been working since long to drive institutional participation in the crypto space. Last year in 2018, the company was managing over $1 billion worth of assets. Thus, the latest news comes as a big breakthrough for Morgan Creek Digital. Company founder Anthony Pompliano tweeted about the announcement, saying:

Ripple Price Analysis: XRP Bulls Facing Uphill Task Near $0.3400
Monday April 22, 2019

Ripple price recently failed to break a crucial resistance area near the $0.3500 level against the US dollar. The price declined below $0.3300, but it stayed above the $0.3140 support area. There is a significant bearish trend line in place with resistance at $0.3380 on the 4-hours chart of the XRP/USD pair (data source from […]

The post Ripple Price Analysis: XRP Bulls Facing Uphill Task Near $0.3400 appeared first on 12bit trade.

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. 🚀
— Pomp 🌪 (@APompliano) February 12, 2019

MGM GVC Interactive Partners With Sportradar on Sports Betting Data
Thursday November 08, 2018

Sportradar will be the exclusive provider of sports betting data to MGM GVC Interactive for the half-dozen leagues and federations for which it is the official provider: the NBA, the NFL, the NHL, NASCAR, FIFA, and UEFA. MGM Resorts partnered with U.K.-based betting platform GVC Holdings this summer on a joint venture in the U.S.

The post MGM GVC Interactive Partners With Sportradar on Sports Betting Data appeared first on W88.

Investing in Cryptocurrency and Blockchain Startups
Morgan Creek said that its new fund will majorly focus on investing in cryptocurrencies, especially Bitcoins. Moreover, the company also plans to invest in blockchain startups and other token-based projects. It is likely that investors of this fund will also be having exposure to popular crypto companies like Bakkt, Coinbase and other lesser-known companies like Blockfi, Open Finance Network, RealBlocks, CityBlock Capital etc.
Earlier, Morgan Creek planned to raise $25 million for its newly launched blockchain fund. However, citing huge demand, the company increased the fundraising to $40 million with Fairfox’s entry.
In December 2018, Pompliano said that it will take time for institutions and pension funds to warm up to the crypto sector. He said:
“It will take time for pension funds to get comfortable with investing in Bitcoin. We need to educate multiple stakeholders and demystify this nascent industry. When one makes the decision, it will create a cascading effect that leads to hundreds of them jumping in.”
Institutions Looking for Long Term Crypto Investments
In the recent interview, Pompliano noted that institutions are looking for smart and long terms investments in the crypto industry. Pompliano said:
“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 long-term trends, and believes they’re betting on innovation as a great way to deliver risk-mitigated returns.’’
He further added that “These are incredibly intelligent, long-term thinking, permanent capital allocators and so, they have a very different mindset than retail investors or some other capital allocators”. While speaking to Hard Fork, the fundraising took place much earlier before the announcement. He added, “We also have invested a material amount of the fund to date already”.
Pompliano also opened up about the concerns expressed by his clients during the deal-making process. He stated that it was mostly business as usual. While further adding that “The concerns were not so much legal as this is only a traditional venture experience. We haven’t tried this in past, so this was the first venture capital fund we tried to raise, and are quite happy with the results. But, the diligence process was quite arduous — exactly what you would expect from large institutional investors like these.”
Industry Experts Extend Support
Katherine Molnar, the chief investment officer of the Fairfax County Police Officer’s Retirement System,  expressed optimism on participating in this new project. She said:
“Blockchain technology is being applied in unique and compelling ways across multiple industries. We feel it is important to be opportunistic and are excited to participate in this emerging opportunity, due to the attractive asymmetric return profile that it represents.”
Etoro senior analyst Mati Greenspan also appreciated this move saying:
“The timing just seems right for this type of action as well. With prices down 80% or more from the all-time high, now seems like a great time for managers of large investment funds to start dipping their toes in the water”.
Binance CEO Changpeng Zhao also welcomed this news calling a big step for crypto.

NISSAN Morning Drive: Bruins Look For Strong Road Performance Against Penguins
Friday December 14, 2018

The Boston Bruins hit the road to take on the Pittsburgh Penguins on Friday night. googletag.cmd.push(function() { googletag.display( “gpt-ad-desktop-out-of-page” ); }); Check out the preview of the game with the NISSAN Morning Drive in the video above.

The post NISSAN Morning Drive: Bruins Look For Strong Road Performance Against Penguins appeared first on 12bet - Bet365.

Small step for @APompliano, big step for #crypto!
— CZ Binance (@cz_binance) February 12, 2019

Asset manager Morgan Creek stays heavily bullish on the future of the crypto market. In December 2018, the company said that crypto markets will outperform the S&P 500 Index in the next decade.
In Industry First, Crypto Asset Manager Morgan Creek Raises Money from Pension Funds