Morgan Creek Digital announces the launch of a $40 million cryptocurrency venture fund

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  • Morgan Creek Capital venture fund is bolstered by investments from The Fairfax County Employee’s and Fairfax County Police Pension Plans.
  • While both the investors come from the same geographic area, they are separate funds with separate investment committees.

Morgan Creek Capital announced that they had raised $40 million for a venture capital fund that will invest in blockchain startups on Tuesday, February 12. The Fairfax County Employee’s and Fairfax County Police Pension Plans are the two largest investors in the fund. 

Katherine Molnar, the chief investment officer of the Fairfax County Police Officer’s Retirement System:

“Blockchain technology is being applied in unique and compelling ways across multiple industries. We feel it is important to be opportunistic and are excited to participate in this emerging opportunity, due to the attractive asymmetric return profile that it represents.”

Anthony Pompliano, a partner at Morgan Creek Capital, tweeted the following:

“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.”

Pompliano also noted that while both the investors come from the same geographic area, they are separate funds with separate investment committees. The police pension fund has $1.45 billion in assets, while the fund for Fairfax government employees has $4.25 billion.
 

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