Alpha, Arcanum Launch Blockchain VC Fund
Asset management firms Alpha Innovations [AI] and Arcanum Capital [Arcanum] announced the launch of the Arcanum Emerging Technologies Fund I on the Alpha Innovations Laureates fund platform.
According to the company, “The fund is focused on providing seed and series A financing to blockchain technology companies in emerging markets.”
“We see a tremendous untapped opportunity to invest in early-stage blockchain companies in emerging markets, where the talent pool is incredibly deep and highly skilled. Companies there are able to access the human resources they need far more economically, and are providing fantastic employment opportunities for talented programmers in these regions,” stated Arcanum founding member, James McDowall.
“India is a particular focus of ours given our deep relationships within their blockchain ecosystem. Our on-the-ground presence and strong reputation allow us access to quality deal flow that is challenging for other VCs to attain without the robust local network our team members have built over the last several years,” added Karthik Bupathi of Arcanum.
Lawrence Newhook, CEO of Alpha Innovations, noted “We seek opportunities to partner with asset managers who can offer unique sources of alpha to our investors. While there have been other blockchain-focused VC funds, we chose to partner with Arcanum due to their depth of expertise and the edge they have created through their focused mandate—both of which make them well-positioned to provide institutional investors with a unique source of uncorrelated alpha.”
“This fund is anticipated to be the first of a series of funds launched by Arcanum, with an anticipated initial close in late February 2021.
“We are excited to be partnering with Alpha Innovations on this launch,” noted Luchang Zheng of Arcanum. “Leveraging their deep experience in structuring and bringing innovative funds to market has allowed us to keep our focus on building and carrying out due diligence on our pipeline of deals,” she added.
“Alpha Innovations and Arcanum have partnered with premier service providers including Apex Fund Services, Walkers [Bermuda] and KPMG [Bermuda] for this fund launch,” the company said.
Ross Webber, Managing Director of Apex Bermuda said: “Apex is delighted to provide full fund administration to support Alpha Innovations as they grow their platform and continue to innovate in Bermuda. We are excited by their pioneering use of the Bermuda ISAC structure and we look forward to continuing to work together.”
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