Altcoin News: Coinbase and Bakkt Fund to Sell $10 Million Tokens

July 30, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The investment company US Capital Global announced the launch of a tokenized venture fund whose assets include shares in such well-known cryptocurrency companies such as Coinbase, Bakkt, Nomics and Tagomi.

According to the press release, accredited market participants are offered the opportunity to equity investment in the $10 million NYCQ Fund LP formed by CityBlock Capital. A division of US Capital Global Securities will act as an exclusive placement agent.

“The Fund does not invest in cryptocurrencies or utility tokens, but directly engages in the expansion of the global digital economy through equity investments in early-stage blockchain infrastructure companies,” writes US Capital Global. “Combining low minimum investment amounts and early liquidity opportunities, the Fund gives accredited investors access to blockchain infrastructure investments normally available to institutional investors,” said Charles Towle of US Capital Global Securities.

According to the description of the instrument, the minimum investment amount is $50,000, the minimum period is 12 months. The management fee for the fund is 2% per year, the manager’s fee is 20% of the profits.

Morgan Creek Capital Management CEO Mark Yusco and founder of Morgan Creek Digital Anthony Pompliano are announced as key partners of the fund.

Author: Marko Vidrih