Virginia pensions among initial investors in Morgan Creek digital offering

While institutional adoption of cryptocurrencies and other digital assets is in its nascent stages, one set of pension fund systems has dived into the technology behind the digitization of the financial system.

Morgan Creek Digital, founded by hedge fund allocator and former endowment CIO Mark Yusko, announced the $80 million first close for Morgan Creek Digital Fund III, its third venture fund focused on blockchain technology and digital assets, which is targeting $400 million in assets.

The firm’s Morgan Creek Digital Fund III first close was anchored by a $66 million commitment . . .

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