Paul Tudor Jones, Raj and Indra Nooyi and James Todd Smith have invested in a new cryptocurrency fund by Glenn Hutchins, co-founder of Silver Lake Partners, a $39 billion private equity firm.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news
According to Yahoo! Finance, the new venture capital crypto fund was also established by Glenn's son James Hutchins and partner Travis Scher. The fund already raised some $72 million from Josh Harris, Geoff Yang; Anthony Noto, Vincent Viola, and Joe Moglia. The vc fund will be managed by James Hutchins and Scher through their company North Island Ventures. Glenn Hutchins is North Island’s chairman.
Glenn Hutchins told Yahoo! Finance that the cryptocurrency market promises not just to revolutionize finance but also "to invent a new computing paradigm that will be as transformational as the PC, the internet, mobility and the cloud."
"It is the proverbial next big thing," he added.
As iHodl reported, the famous American investor and Tudor Investment Corp. CEO Paul Tudor Jones bought bitcoin (EXANTE: Bitcoin) as a hedge against the inflation risks. Jones claims the state of affairs on the stock market reminds him of the role gold played back in the 1970s, which is why the well-known macro investor considers bitcoin is the fastest horse for "the best profit-maximizing strategy."
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.