On Tuesday, February 12, the American investment fund Morgan Creek Digital announced the creation of a venture fund for investment in cryptocurrency, which, among other things, received support from state pension funds of Fairfax County (Virginia). As it became known, the volume of investments of public pension funds amounted to $ 21 million (a total of $ 40 million was raised)
As reported on the official website of the local administration, the Pension Fund of Police Officers invested $ 11 million (0.8% of total assets), and the Pension Fund of county officials – $ 10 million (0.3%).
The funds explained a small percentage of investments by the fact that the blockchain industry is still in its infancy.
“The size of the investment was determined taking into account the compliance of the expected return with the risk level,” the message says.
At the same time, according to Jeffrey Weiler, executive director of the county pension system, it was blockchain, not cryptocurrency, that interested funds as a promising technology for investment.
“To date, none of the cryptocurrency in the portfolio of the fund is not represented. Thus, this investment is in many ways similar to other investments of the Fairfax pension system in private capital, ”he said.