Morgan Creek Aims to Raise $500M for AI and Blockchain Investments
North Carolina-based hedge fund Morgan Creek Digital is planning to raise $500 million for a new fund focused on early-stage investments in artificial intelligence (AI), blockchain technologies, and high-performance chips. The fund will target early-stage companies leveraging AI and blockchain synergies. Negotiations are ongoing with institutional investors and partners across Europe, the United States, the Middle East, Africa, and the Asia-Pacific region. Morgan Creek anticipates significant technology investment growth, particularly in the Middle East. This initiative coincides with a recovery in the crypto venture capital market, with notable fundraising activities in early 2024. General Partner Mark Yusko highlighted the firm’s global outreach efforts to connect with top CEOs and partners. Since its establishment, Morgan Creek has already raised over $440 million. The new fund aims to significantly increase investment in generative AI and blockchain within the EMEA and APAC regions.
Bullish
Morgan Creek Digital’s new initiative to raise $500 million for AI and blockchain investments signifies strong confidence in these transformative technologies. This, coupled with a recovering crypto venture capital market and significant fundraising efforts noted in early 2024, is likely to stimulate increased market activity and investor optimism. The strategic focus on early-stage companies and regions with growing tech investments, such as the Middle East, suggests potential for high returns and innovation breakthroughs, bolstering positive sentiment in the crypto market.