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Two American Public Sector Pension Plans Back $40 Million Crypto VC


Two American public pension funds have supported a new venture capital fund for cryptocurrency. The investment includes a substantial tranche of $40 million. Some of the most conservative investment managers are lauding the deal as a sign of confidence in the field



The Morgan Creek Shelter Humanity Opportunities Fund


Anthony Pompliano is a Partner at Morgan Creek Digital. This asset management company was backed by Morgan Creek Capital Management. The new $40 million crypto venture fund will be anchored by two public pensions. Pompliano, as he is known on crypto Twitter, stated in a typically assertive manner: “The institutions don’t come.” They are already here.


Fairfax County Police and Fairfax County Employees’ pension funds are believed to provide the main support for the Morgan Creek Shelter Crypto Opportunities Fund. An insurance company, a hospital, and a private foundation are reportedly other participants.


Two American Public Pension Funds Support New Crypto VC of $40 Million


Fairfax County, Virginia


According to reports, the new fund will be structured similar to a traditional venture capital fund. It will invest primarily in equity companies in the digital asset industry. The fund will reportedly also hold cryptocurrencies as a part of its capital. Morgan Creek has made investments in companies like Bakkt and Blockfi, Coinbase and Realblocks.


Every pension fund should buy Bitcoin


Morgan Creek Digital has been trying to open the cryptocurrency market up to pension funds for some time. It launched the Digital Asset Index Fund in August 2018. This fund was created to give pension funds, endowments, foundations, wealthy families and sovereign wealth funds broad-based exposure to crypto investments.


Two American Public Pension Funds Support New Crypto VC of $40 Million


Pompliano stated in December that every pension fund should invest in Bitcoin. He also wrote on Medium: “It will take some time for pension funds get comfortable investing in Bitcoin. This industry is still in its infancy and needs to be understood by multiple parties. One person making the decision will trigger a chain reaction that causes hundreds to follow. Bitcoin could be the solution to our current pension crisis. Only one or two people are needed to take the first step.