US digital asset fund, venture capital firm to raise $100 million for two new blockchain funds | – #digital #asset #fund #venture #capital #firm #raise #million #blockchain #funds
NEW YORK, March 8 (Reuters) – USAAlpha Sigma Capital, a digital asset fund based in , and venture capital firm Transform Ventures, for two new funds focused on blockchain and so-called decentralized Web 3.0 enterprises. 100 million dollars will attract , Alpha Sigma Founder and CEO Enzo Villani said Wednesday.
Transform Ventures, founded by cryptocurrency investor Michael Terpin, has also merged some of its assets with Alpha Sigma’s parent company to create a new holding company called Alpha Transform Holdings. The latter will oversee two new funds.
In 2019, Terpin, court 75.8 million in a civil lawsuit against Nicolas Truglia, who was 21 at the time and was part of a scheme to defraud Terpin digital currencies, according to filings dollars won. Truglia with other participants 2018stole 3 million tokens from Terpin’s mobile phone account at the beginning of the year.
New Alpha Liquid digital asset fund, additional 2.9 million dollars cash with the ability to invest launched earlier this month with an initial investment from Terpin, who personally invested $2.65 million in bitcoin and ethereum.
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A second fund, a closed-end venture capital firm called Ege Fund, is still in the process of being launched, Villani said.
These new funds come as the cryptocurrency industry faces increased scrutiny following the high-profile bankruptcy of cryptocurrency exchange FTX in November and the collapse of several other market players, such as lender Celsius Network.
“The real growth of blockchains and the real growth of Web 3 is starting to happen,” Villani told Reuters in an interview. Web 3.0 refers to the third iteration of the internet where users interact with information through artificial intelligence and machine learning, among others.
“A lot of things happening right now (in the crypto and blockchain space) can be difficult. But I think the industry will get through these (challenges) anyway,” he said.
Reporting by Gertrude Chavez-Dreyfuss; Edited by Mark Porter
Our standards: Thomson Reuters Trust Principles.
2023-03-09 00:51:47
Source – reuters
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