Morgan Creek Hedge Fund Acquires Full Tilt Capital, Plans $500 Million Raise For Blockchain Fundbr>
Morgan Creek Capital Management has acquired cryptocurrency venture firm Full Tilt Capital LLC. The move was seen as part of a big bet to invest in blockchain technology. Terms of the deal were not disclosed
The Morgan Creek hedge fund has more than a billion dollars in assets under management. Raleigh, North Carolina’s Full Tilt said in January that its next fund would be invested entirely in cryptocurrency assets.
Anthony Pompliano, managing partner at Full Tilt, told Bloomberg that the new fund’s strategy will be blockchain technology, mentioning a high-concept plan to tokenize equity shares in a New York hotel, or turning a company’s equity into tokens.
“We’re encouraged by the potential blockchain can bring to financial markets,” said Pompliano.“Although this is new, we’re excited to be at the forefront.”