Morgan Creek's new $40 million venture fund anchored by two public pensions

12 Feb, 2019
by Richard Allen
Morgan Creek's new $40 million venture fund anchored by two public pensions

Morgan Creek recently announced that a new crypto-focused venture fund with $40 million invested. The two main investors anchoring the fund are Virginia’s Police Officer’s Retirement System and Employees’ Retirement System, CoinDesk reports.

The fund's investors also include a university endowment, a hospital system, an insurance company and a private foundation.

Read more: Morgan Creek Digital backed a $3.1 million investment round for RealBlocks

“Blockchain technology is being applied in unique and compelling ways across multiple industries,” Katherine Molnar, Chief Investment Officer of the Fairfax County Police Officer’s Retirement System said. “We feel it is important to be opportunistic and are excited to participate in this emerging opportunity, due to the attractive asymmetric return profile that it represents.”

Their most recent financial statement indicates that the police pension fund has $1.45 billion in assets, while the Fairfax government employees fund has $4.25 billion. Anthony Pompliano, partner at Morgan Creek Capital, explained during an interview with CoinDesk that while both funds are from the same geographic area, they are separate funds with separate investment committees.

Furthermore, the size of the funds will help draw attention to the potential of bringing public pensions into blockchain investing.

“As far as we know, nobody has raised money from a public pension,” Pompliano said.

Read more: Anthony Pompliano says crypto will outperform stocks again in next 10 years

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