10T Holdings attracts $750 million for launched crypto-startup funds

The aggregate assets under management by 10T Holdings of Dan Tapiero for investing in fast-growing crypto companies reached $750 million.

On September 9, the company announced the successful closing of the growth funds 10T Fund and 10T DAE Expansion Fund with AUM of $389 million.

The idea of launching the first 10T Fund A structure emerged in late 2020. In January 2021, 10T Holdings filed the necessary filings with the SEC.

The fund has already allocated 80% of the capital raised to mid- and late-stage companies. Among them are Kraken, Ledger, Figure, Deribit, Bitfury, Huobi, eToro, Figment, Animoca Brands and Helium. The funds themselves do not invest in cryptocurrencies.

Among its backers are billionaire Alan Howard and the Michigan State Employees Retirement System, according to Bloomberg.

“We have a good portfolio of companies. Three years ago, there were few startups; the space is developing rapidly. I think Bitcoin will rise to $400,000-$500,000, but the path will be associated with high volatility”, — Tapiero said.

In August, 10T Holdings took a stake in the capital of the Deribit cryptocurrency-derivatives exchange.

In July, Franklin Templeton, with $1.4 trillion AUM backed the Galaxy Digital fund of crypto funds for $34 million.

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