Mar 4, 2021 - Economy

BlockTower Capital raises $25 million fund for decentralized finance

Kia Kokalitcheva

Animated illustration of a hand holding a rotating glowing golden pixel coin. — Illustration: Aïda Amer/Axios

BlockTower Capital has raised a $25 million fund focused on decentralized finance, or "DeFi," projects and assets, Axios has learned.

Why it matters: Decentralized approaches to financial use cases like exchanges, lending and prediction markets, have become more popular as tech seeks to displace traditional intermediaries.

Between the lines: BlockTower's new fund will hold assets longer than some of its other vehicles, giving it the ability to invest in a wider range of assets, including some that are less liquid.

Limited partners are said to include veteran investor Howard Morgan (ex-First Round Capital, Renaissance Technologies), historian Niall Ferguson and Milwaukee Bucks owner Marc Lasry.
Lasry and former CFTC chairman Christopher Giancarlo also recently invested in BlockTower's main fund, as Bloomberg reported earlier this week.

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BlockTower Capital raises $25 million fund for decentralized finance

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