Cryptology Asset Group, a Malta-based investment organization founded by serial entrepreneurs Mike Novogratz and Christian Engermeier, is set to offer support for crypto VC firms.
In release Issued on Thursday, the European holding company announced plans to invest $100 million in the crypto fund for the first time ever. As part of the announcement, the investment organization revealed that it will be taking 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 crypto asset manager Iconic Funds and investments in bitcoin (B T c) mining operator Northern Data.
Indeed, Cryptology also provides indirect information from EOS developer Block.one and its recently announced $10 Billion Crypto Tech Company Bullish Global.
Commenting on the planned investment fund, Engermeyer, co-founder of Cryptology, said:
“We are at the beginning of the crypto revolution, and we strive to be one of the leading global investors in this nascent asset class. Our fund investment strategy will focus on emerging talent, adopting a global approach, and relating to crypto and blockchain. This will include funds investing in the equity portion of 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 is the best investment bet. Lowry said Cryptology has grown its assets under management to $548 million from an initial capital investment of approximately $33 million.
According to Lowry, the Malta-based firm has enjoyed an estimated internal rate of return (IRR) north of 300% per annum. The CEO attributed the company’s positive growth performance to “tectonic shifts” triggered by the emerging crypto asset class.