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.<\/p>\n
According to the press release<\/a>, 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.<\/p>\n \u201cWe are at the very early stages of the crypto revolution and aim to become one of the leading investors in this nascent asset class,\u201d Angermaier said.<\/p>\n<\/blockquote>\n 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 \u20ac27 million to \u20ac450 million (as of 1 June 2021).<\/p>\n \u201cAs a result, the calculated internal rate of return exceeded 300% \u2014 a striking testament to the tectonic shift taking place before our eyes,\u201d he added.<\/p>\n<\/blockquote>\n Among the firm\u2019s portfolio companies are Block.one, behind the EOS blockchain project, and the operator of mining data centres Northern Data.<\/p>\n Cryptology, registered in Malta, is listed on the D\u00fcsseldorf Stock Exchange.<\/p>\n As previously reported, Galaxy Digital Holdings, NovoGrad\u2019s other company, for the first quarter of 2021 posted total revenue of $860.2 million<\/a> against a net loss of $26.9 million for the same period last year.<\/p>\n\n
\n