While the whole crypto space is talking about the price manipulation of Bitcoin that Elon Musk has been doing via his tweets, it’s been reported that Mike Novogratz is getting ready to invest $100 million into crypto-based projects through his crypto-venture firm.
Co-founded in 2018 by Mike Novogratz and business partner Christian Angermayer, Malta-based Cryptology Asset Group is a leading investment company for blockchain and crypto-related businesses in Europe, according to the reports coming from the Daily Hodl.
The same online publication notes that in a report released on Thursday, the company announced that it’s ready to support crypto venture funds and businesses globally. It seems that they will be doing this by focusing on investments in first-time funds, emerging managers, seed rounds and GP stakes.
It’s also important to note the fact that Mike Novogratz is holding 85% of his multi-billion-dollar fortune in crypto; he is a former executive at Goldman Sachs and he founded his wealth management firm Galaxy Digital in 2018. It currently manages over $1.5 billion.
Novogratz has been supporting crypto
Novogratz spent the past six years trying to onboard investors into crypto. Here’s what he said in a recent interview:
“This is more than just a financial game. This is a revolution. And so I think the more people we can bring in the tent, the better. There are lots of investors whose first exposure to our space is going to be through public equities. That’s what they’re used to. That’s what they’re comfortable with.”
Angermeyer stated the following:
“We are at the very beginning of the crypto revolution, and we strive to become one of the leading global investors in this very nascent asset class. Our fund investment strategy will focus on emerging talent, taking a global approach, and will encompass both funds investing in equity stakes of crypto and blockchain-related companies as well as funds investing in crypto assets and tokens.”