Anthony Pompliano claims that he has found a way to diffuse the ticking pension-system timebomb — and two US-based public pension funds have already taken some steps in the right direction.
As a new offshoot of Morgan Creek Capital Management LLC, Morgan Creek Digital has raised investments in the amount of $40 million from such big names as Coinbase , Bakkt, BlockFi, and TrustToken. However, apart from the industry heavyweights, several US-based public pension funds contributed significant amounts to the new venture.
The fund received money from the Fairfax County Police Officer’s Retirement System (with $1.45 billion under management) and County Employee’s Pension plan (with $4.25 under management) — as well as some smaller contributors, including a University Fund, Hospitals chain, insurance company, and a private pension fund.
The venture — founded by Pompliano, Jason Williams and Mark Yusko — will focus on seed rounds for cryptocurrency and blockchain startups. However, the fund will also maintain a small portfolio of digital assets and occasionally invest in projects with native tokens.
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.
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