Cryptology Asset Group, a European investment company founded by Christian Angermayer and Mike Novogratz, plans to put up to $100 million in cryptocurrency-focused venture funds over the next 24 months. According to a press release, the company will focus on "first time funds and emerging managers."
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Angermayer claims the market stands at the "very beginning of the crypto revolution," which is why the company wants to become one of the leading global investors in this 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," Angermayer added.
As per Patrick Lowry, Cryptology Chief Executive, over the last three years the company has increased its invested capital from €27 million up to €450 million. Meanwhile, Mike Novogratz believes that the long-awaited bitcoin (EXANTE: Bitcoin) exchange traded fund (ETF) might finally come into realty as the institutional presence on the market rises. According to Novogratz, the market will get a bitcoin ETF "this year."
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