Mike Novogratz-backed firm announces $100M crypto investment fund

Cryptology Asset Group wants to invest $100 million into new crypto and blockchain-focused venture funds.

Cryptology Asset Group, a Malta-based investment outfit co-founded by serial entrepreneurs Mike Novogratz and Christian Angermayer, is set to offer support for crypto VC firms.

In a release issued on Thursday, the European holding company announced plans to float a $100-million investment into first-time crypto funds. As part of the announcement, the investment outfit revealed that it will adopt an entrepreneurial approach in building its crypto fund portfolio with a focus on emerging managers and GP seeding.

Cryptology already has a significant footprint in the crypto and blockchain space with investments in the likes of crypto asset manager Iconic Funds and Bitcoin (BTC) mining operator Northern Data.

Indeed, Cryptology also offers indirect exposure to EOS developer Block.one and its recently announced $10-billion crypto tech company Bullish Global.

Commenting on the planned investment fund, Cryptology co-founder Angermayer said:

“We are at the very beginning of the crypto revolution, and we strive to become one of the leading global investors in this very nascent asset class. Our fund investment strategy will focus on emerging talent, taking a global approach, and will encompass both funds investing in equity stakes of crypto and blockchain-related companies as well as funds investing in crypto assets and tokens.”

For Patrick Lowry, CEO of Cryptology, the company’s increased focus on the crypto market lies in the fact that the industry constitutes the best investment bet. Lowry said that Cryptology has grown its assets under management to $548 million from an initial capital investment of about $33 million.

According to Lowry, the Malta-based firm has enjoyed an estimated internal rate of return north of 300% per year. The CEO attributed the company’s positive growth performance to the “tectonic shifts” triggered by the emerging crypto asset class.