University of Michigan may add to its $3 million investment in crypto fund

22 Feb, 2019
by David Robb
News
University of Michigan may add to its $3 million investment in crypto fund

A document recently released by the University of Michigan suggests that it may be investing more into crypto in the near future. Its $12 billion endowment has already put $3 million into Andreesen Horowitz's VC fund.

The document lists a number of ventures that the University of Michigan endowment has put funds into, and claims that it may commit to follow-on investments, without disclosing details of how much more this would amount to. Its first investment in Andreesen Horowitz's crypto fund was back in June 2018.

The University of Michigan is also participating in a major blockchain research initiative paid for by Ripple.

Read more: University of Michigan joins Ripple's $50M blockchain research initiative

The document explains the necessity of AH having a separate investment fund for crypto, claiming that the "regulatory landscape for crypto-based investments is potentially more cumbersome than is the case with the sort of traditional IT investing that otherwise characterizes AH's activities...crypto is currently regarded as a distinct type of technology by entrepreneurs, funding sources, and developers. By creating a separate fund, AH hopes to be better positioned within this community"

Read more: What could make Bitcoin go mainstream again?Will Bitcoin recover in 2019?

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