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0/ The fund we announced today at Morgan Creek Digital was the product of a lot of work.
Time for a thread 👇🏽👇🏽👇🏽
Time for a thread 👇🏽👇🏽👇🏽
1/ We set out to raise a fund filled with institutional investors. It was obvious this would be an uphill battle.
It took hundreds of hours of educating folks on why this was important and worth doing.
It took hundreds of hours of educating folks on why this was important and worth doing.
2/ The entire team worked hard, but the CIOs at both public pensions deserve much more credit than they will get.
They’re forward thinking, intelligent and courageous. No one wanted to be the first, but they seized the opportunity immediately.
They’re forward thinking, intelligent and courageous. No one wanted to be the first, but they seized the opportunity immediately.
3/ The best part is that the CIO of the first public pension to ever invest in crypto is a woman.
She is the definition of a trailblazer.
She is the definition of a trailblazer.
4/ The headlines will focus on the public pensions, but we also have a hospital system, an university endowment, an insurance company and a private foundation.
The smart money is in the game in a big way.
The smart money is in the game in a big way.
5/ We chose to focus on investing in the equity of companies because it gave the institutions exposure to the crypto industry, while being less risky than simply buying liquid crypto assets.
6/ The fund, which is backed by the two public pensions, will have small exposure to Bitcoin too.
I believe every fund, regardless of strategy or industry, should have direct Bitcoin exposure.
I believe every fund, regardless of strategy or industry, should have direct Bitcoin exposure.
7/ The team has been deploying capital for a while now, the portfolio has 14 investments so far, and we chose to wait to announce the news.
Sometimes it is better to share your body of work, rather than your plans.
Sometimes it is better to share your body of work, rather than your plans.
8/ The Morgan Creek Digital team was incredible throughout this entire process.
@JWilliamsFstmed
@MarkYusko
@cjking711
They should all be remembered and celebrated as the group that got this done in one of the toughest fundraising environments.
@JWilliamsFstmed
@MarkYusko
@cjking711
They should all be remembered and celebrated as the group that got this done in one of the toughest fundraising environments.
9/ We aren’t done though. The entire team is excited to partner with so many amazing founders already, but we are working to find many, many more.
If you think you’re one of them, email us at deals@morgancreekcap.com
If you think you’re one of them, email us at deals@morgancreekcap.com
10/10 I’ve been telling all of you that we’re going to tokenize the world and that the virus is spreading.
Today proves that you can speak anything into existence with the right team and enough persistence.
Now let’s kick this thing off!
Today proves that you can speak anything into existence with the right team and enough persistence.
Now let’s kick this thing off!
