Marshall Wace, a London-based hedge fund giant managing about $55 billion in assets, is reportedly planning a major move into cryptocurrency and blockchain investment.
The hedge fund firm is preparing to launch a dedicated portfolio, targeting investments in the digital asset industry, the Financial Times reported on Tuesday.
Citing anonymous people familiar with the matter, the report notes that the new initiative will focus on investing in privatelyowned digital finance companies working in areas like blockchain technology and payments systems for digital currencies and stablecoins.
It is believed that Marshall Wace’s new digital finance portfolio will be headed by Amit Rajpal, chief executive of Marshall Wace Asia and co-founder of Indian fintech firm Niyogin.
According to the report, the portfolio will adopt a similar approach to a newly launched healthcare fund, first targeting investments in firms before flotation, then holding on to them after they list. People familiar with the matter reportedly said that the portfolio will focus on late-stage venture capital investments and the infrastructure around stablecoins.
The hedge fund firm is reportedly still discussing the size of the new portfolio with potential investors. The company did not immediately confirm nor deny the news to Cointelegraph.
In May, Marshall Wace participated in a $440 million fundraising round for Circle, a major United States-based fintech firm behind USD Coin (USDC), which is the second largest stablecoin by market value after Tether (UDST).