The macro inverter Dan Tapiero is launching another multi-million dollar fund that aims to invest in companies in the middle and late stages of the digital asset ecosystem.
According to an exempt security offering notice filed with the Securities and Exchange Commission on Monday Tapiero and his 10T Holdings partners Michael Dubilier and Stan Miroshnik have notified regulators of the creation of a $ 500 million growth capital fund for cryptocurrency and blockchain companies. The presentation shows that the fund has not yet sold the original stake.
The 10T DAE Fund 3.0 is the growth capital company’s third fund, following a $ 200 million fund in February and a $ 750 million fund in September. The company has 14 cryptocurrency and blockchain companies in its portfolio, including Kraken, eToro, Huobi, Mercado Bitcoin, Gemini, Bitfury and Ledger. With the $ 500 million fund, 10T Holdings’ assets under management would likely exceed $ 1 billion (AUM $ 770 million is listed on its website at press time).
Tapiero is no stranger to investing, but before the cryptocurrency boom, part of his business was in gold. The founder of 10T Holdings also helped co-found Gold Bullion International in 2009 and actively spoke about the potential of the cryptocurrency ecosystem, including Bitcoin (BTC),Due to the accelerated adoption of digital assets.
According to data from Cointelegraph Markets Pro, the price of BTC is $ 51,140 as of press time, after falling to a monthly low of $ 42,000 on December 3, it is up more than 20%. However, Cointelegraph reported that there are signs that institutional investors are still looking for cryptocurrencies.