Mar 4, 2021 - Economy & Business
BlockTower Capital raises $25 million fund for decentralized finance
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.