Hedge fund firm Marshall Wace with $55 billion in assets is looking to invest in crypto and blockchain
The London-based hedge fund is preparing to launch a dedicated portfolio and is discussing the size of this digital portfolio with potential investors.
Marshall Wace is the newest in the race to get into digital asset investment. This move can be seen as the result of investments from hedge fund firms like Brevan Howard Asset Management, billionaire hedge fund managers Paul Tudor Jones and Marc Lasry in the growing digital assets.
This new firm is planning to fund private unlisted companies working in areas such as payments systems for virtual currencies, stablecoins, and Blockchain technology.
Marshall Wace is also on the lookout for new staff in the digital assets field. While the new investment business is still at the early stages, the asset management company plans to expand quickly and is looking to include other forms of investment like cryptocurrency trading.
size of the launch is still unclear, Marshall Wace wants to rope in potential
investors and is in talks with them. The new digital finance venture
would be headed by Amit Rajpal, CEO of Marshall Wace Asia and co-founder of
Indian fintech firm Niyogin, which lends to small businesses.
Many hedge fund firms, financial institutions, and other traditional financial groups are already investing in digital assets as the popularity of cryptocurrency continues to grow worldwide.
CBW - External Analyst