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Cryptology Asset Group intends to invest $100 million in new cryptocurrency and blockchain business funds.
Cryptology Asset Group, a Malta-based investment business co-founded by serial entrepreneurs Mike Novogratz and Christian Angermayer, is prepared to provide assistance to cryptocurrency venture capital businesses.
In a release issued on Thursday, the European holding company announced plans to float a $100-million investment into first-time crypto funds. As part of the announcement, the investment outfit revealed that it will adopt an entrepreneurial approach in building its crypto fund portfolio with a focus on emerging managers and GP seeding.
With investments in the likes of crypto asset management Iconic Funds and Bitcoin (BTC) mining company Northern Data, Cryptology already has a large footprint in the crypto and blockchain world.
Indeed, Cryptology provides indirect exposure to Block.one, the developer of EOS, and its newly announced $10 billion crypto tech business, Bullish Global.
Angermayer, co-founder of Cryptology, commented on the intended investment fund:
“We are at the very beginning of the crypto revolution, and we strive to become one of the leading global investors in this very nascent asset class. Our fund investment strategy will focus on emerging talent, taking a global approach, and will encompass both funds investing in equity stakes of crypto and blockchain-related companies as well as funds investing in crypto assets and tokens.”
According to Patrick Lowry, CEO of Cryptology, the company’s increasing focus on the crypto market stems from the industry’s status as the finest investment bet. Lowry stated that Cryptology’s assets under control had risen to $548 million from an initial capital commitment of around $33 million.
According to Lowry, the Malta-based corporation has a year-on-year internal rate of return of more than 300 percent. The CEO credited the company’s strong growth to the “tectonic shifts” caused by the new crypto asset class.