Accolade Partners Seeks $175M to Support Second Crypto Venture

2021-8-17 18:00

Traditional asset manager Accolade launches its second crypto fund. According to the firm, their initial crypto portfolio is performing better than their non-crypto funds. 

Accolade Partners is known for their involvement in traditional venture and growth equity funds. Recently, however, the firm began its own dedicated pool of funds for crypto investments. 

The plan is to raise $175 million for their offshoot, Accolade Partners Blockchain II LP, which is the name of their second fund reserve. Accolade intends for the fund to invest in around 10 different crypto venture funds, according to firm partner Atul Rustgi.  

During the first quarter of their first fund, it closed with $124 million. 

The asset manager is bullish on the future of crypto start-ups. Rustgi suggests crypto businesses may start to compete with conventional businesses across various industries in the near future. He particularly sees the potential of the technology behind DeFi, along with the boom of non-fungible tokens. 

On behalf of the firm, Rustgi said, “we feel like there’s return potential here similar to what we saw in the early to mid-1990s in venture.”

Accolade Partners is among a small but growing group of institutional limited partners which now have a specific fund for funds for crypto start-ups. Others include the endowments of Yale and Harvard. The firm’s first investment reaches back to 2018, when it invested in a crypto fund backing Andreessen Horowitz’s fund. 

At the time of writing, the firm invests in a number of other crypto venture funds. This includes firms such as Acrylic, Electric Capital, Framework Ventures, Polychain Capital, and Standard Crypto.

Investing in crypto

For many, an investment in crypto isn’t just an investment in an asset but an investment in the building blocks of society’s digital future. Accolade estimates around 150 crypto venture firms it could back. Currently, its portfolio includes the likes of Dapper Labs Inc, OpenSea, and Uniswap.

“You are seeing real traction, real revenue growth within blockchain,”  Rustgi said. Already, 2021 has seen a record $17B invested into crypto from venture capital funds. 

Despite the concerning news of tighter crypto regulations, the firm still believes in the future of the space. Rustgi believes that U.S. regulators will ultimately see to the side of crypto, “One should always be concerned about regulation, but to date the U.S. regulatory bodies have shown through their actions that they want to create guard rails for the asset class instead of shutting it down.”  

The post Accolade Partners Seeks $175M to Support Second Crypto Venture appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

crypto accolade second 175m venture seeks partners

crypto accolade → Результатов: 6


Фото:

Coinbase Fraud Accusations Could Set Coinbase Domination Plans Back

Coinbase want to become the worlds biggest and best cryptocurrency exchange. This is hardly surprising as I am sure every cryptocurrency exchange would want to achieve that accolade. Either way, we are seeing reports today that discuss how Coinbase has had a number of complaints filed against it in the United States, complaints that now looking to be engaging the involvement of the US Securities and Exchange Commission (SEC).

2018-6-22 18:00


Фото:

Ripple XRP Partner Has Launched In The UK

Southeast Asia’s leading virtual cross-border currency transfer service provider InstaReM, has now launched in Europe with its main operation being headquartered in London. The European market approach by InstaReM is aimed to ‘bottom out’ the market and name itself as “price champion”, just as it achieved a similar accolade following the companies launch in Southeast Asia in 2014.

2018-6-19 14:00