It looks as if Silicon Valley and Wall Street are coming together just to see who can shower cryptocurrency ventures with more money.
Blocktower Capital Crypto Hedge Fund
Blocktower Capital is a cryptocurrency hedge fund headed by former Goldman Sachs vice president Matthew Goetz. The new venture was only launched in August 2017 and has already said to have raised about $140 million.
Investors in Blocktower reportedly include family offices and other entities such as venture capital firms such as Union Square Ventures LLC and Andreessen Horowitz.
Some of the raised funds were apparently redirected towards boosting the company’s staff, now estimated to sport eight executives. On Thursday Blocktower issued a statement that it hired Michael Bucella, who was also with Goldman Sachs since 2008. Bucella’s last role at the bank was related to multi-asset sales in Canada, where he headed strategic partnerships and business development.
Alpha Potential Is Abundant
On its sparse website Blocktower Capital’s only description of its investment strategy, goals or operation is “bringing professional trading and portfolio management to an emerging digital asset class.” There is no mention of what cryptocurrencies they will focus on for trading, as well as whether they will invest in ICO tokens or stocks of any ‘blockchain’ companies.
However, CEO Goetz, described what is the opportunity the fund can capitalize Read More Here