The London-based hedge fund giant, Marshall Wace has managed around $55 billion in assets and is reported to have been planning a big move recently. According to reports, the hedge fund giant is planning on investing in cryptocurrency and blockchain technology.
As reported by the Financial Times on Tuesday, the hedge fund giant is preparing to have launched a portfolio dedicated to targeting investments in the crypto industry.
The report cited anonymous entities familiar with the matter, stating the firm’s new initiative will be focusing on investing in privately-owned companies. Digital finance companies that specialize in blockchain technologies, and payment systems for digital assets, and stablecoins are of interest for the firm, according to the report.
It is strongly believed that Marshall Wace’s digital finance portfolio and the new initiative will be led by Amit Rajpal, the chief executive of Marshall Wace Asia, and the co-founder of Niyogin, an Indian fintech firm.
Additionally, the reports added that the new portfolio will follow a similar approach made by the recently launched healthcare fund. The portfolio will target investments in firms before flotation, and hold them after the list. People familiar with the recent matter have reportedly stated that the digital finance portfolio will focus on late-stage venture capital investments, and the organizations centered on stablecoins.
According to the reports, the hedge fund giant is still discussing the size of its digital finance portfolio with potential investors. The company has not yet confirmed nor denied the news to Cointelegraph.
Marshall Wace was one of the firms that participated in the $440 million fundraiser round for Circle, a major fintech firm based in the United States. Being the biggest fintech firm in the U.S, Circle deployed USD Coin, the second-largest stablecoin by market value, only behind Tether.