New $100 million investment fund goes "10 year long" on Ethereum

07 Jun, 2019
by Richard Allen
Ethereum
New $100 million investment fund goes 10 year long on Ethereum

Darma Capital, a new $100 million investment firm is opening to investors who are looking to buy into digital assets like Ether that are poised for a ten-year bull run, Bloomberg reports.

Darma is betting big on cryptocurrencies with its flagship fund being an Ether-focused portfolio with $100 million in digital assets under management. The goal is to continue accumulating Ether at 1% of the fund’s holdings per month.

Andrew Keys, a managing member in Darma and one of ConsenSys’ first employees, compared the state of cryptocurrencies today to the early days of the internet when investors backed Amazon or Google.

“We are 10 years long” on Ether, Keys said. He added that his firm is planning on adding similar funds for Bitcoin and Filecoin in the future.

ConsenSys founder and Ethereum co-founder Joseph Lubin called keys a “unifying force” in the Ethereum community. He continued:

“As a foundational member of ConsenSys Solutions, Andrew was a key driver in opening up the Ethereum ecosystem to enterprise,” said Lubin. “I expect Andrew’s new role at DARMA will enable him to continue his work in strengthening and fostering communication and cohesion in our ecosystem.”

The funds is registered with the Commodity Futures Trading Commission as both a commodity pool operator and a commodity trading advisor.

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