This is information that our familiar ZUS would be stupefied. Pension funds from the United States invest in a venture capital fund Morgan Creek Digital, which in turn is based on blockchain companies. This is a historic step, because pension funds enter the cryptocurrency market for the first time.
The founder of the Morgan Creek Digital fund is Anthony Pompliano, an entrepreneur and supporter of cryptocurrencies. It is from his statement that we learn that two retirement plans from County Fairfax, Virginia, have invested $ 40 million in a blockchain venture capital fund.
It’s an interesting, but also a bold idea. Institutional investors see potential for earnings in cryptocurrencies, although probably also a high risk.
According to Pompliano’s statement, the Fairfax County Retirement Systems fund manages three separate retirement benefit programs, two of which have invested in Morgan Creek Digital. The Pompliano Fund will, in turn, invest the money obtained in the shares of companies from the blockchain industry and – although it will be a small amount – strictly in cryptocurrencies.
Katherine Molnar, investment director of one of the pension funds, claims that technology gives a “new opportunity” offering an “attractive asymmetrical return profile”.