Cryptology Asset Group, the investment vehicle founded by billionaires Mike Novogratz and Kristian Angermaier, intends to invest $100 million in crypto-related venture funds over the next two years.
According to the press release, the company is targeting new funds and asset managers that own stakes in both blockchain ventures and in firms that invest directly in digital currencies.
“We are at the very early stages of the crypto revolution and aim to become one of the leading investors in this nascent asset class,” Angermaier said.
Commenting on the performance of the digital-asset space, Cryptology CEO Patrick Lowry noted that over three years the firm grew its net invested capital from €27 million to €450 million (as of 1 June 2021).
“As a result, the calculated internal rate of return exceeded 300% — a striking testament to the tectonic shift taking place before our eyes,” he added.
Among the firm’s portfolio companies are Block.one, behind the EOS blockchain project, and the operator of mining data centres Northern Data.
Cryptology, registered in Malta, is listed on the Düsseldorf Stock Exchange.
As previously reported, Galaxy Digital Holdings, NovoGrad’s other company, for the first quarter of 2021 posted total revenue of $860.2 million against a net loss of $26.9 million for the same period last year.
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