26/11/2021 Crypto Investment Firm Arca Launches $30M Fund Dedicated to NFTs
The fund opened to investors last week and has raised $11.4 million so far.
Asset management firm Arca has launched a $30 million fund dedicated to non-fungible tokens (NFT), according to anew regulatory filing.
- Arca, which had a total of $500 million in assets under management as of the third quarter, began accepting investments in the Arca NFT Fund on Nov. 15 and has so far raised $11.4 million from 68 inventors toward its total $30 million goal.
- Arca tells CoinDesk the fund is only open to existing Arca limited partners (LPs) and is already oversubscribed.
- “We decided to create a standalone vehicle based on the lifecycle of the NFT ecosystem … [that] was mature enough for a fund but still very early,” Sumana Maitra, Arca’s chief marketing officer, told CoinDesk in an email.
- Sasha Fleyshman is the portfolio manager for the Arca NFT Fund and Jeff Dorman will oversee as CIO.
- Last month, Arca entered the world of early-stage investments with the Endeavor Fund. The fund closed above its $30 million goal and has put money behind Bitwave, Lattice and BlockchainSpace.
- Asked to compare the Endeavor Fund to the NFT Fund, Maitra said Endeavor looks at early-stage investments across many sectors, including NFTs and gaming, but will predominantly invest in companies supporting NFT growth via equity and token investments.
- “The NFT fund focuses on investing in the actual NFTs themselves, many of which have immediate cash flows and yields and unique properties that accrue directly to the token holder,” Maitra told CoinDesk.
- Investment focuses for the Arca NFT Fund will include digital property, in-game assets, art and collectibles and how NFTs interact with decentralized finance (DeFi), to name a few.
- Arca’s NFT fund marks the latest venture capital bet on digital assets. In a research note published last month, Bank of America said VC investments in the sectorsurpassed $17 billionfor the first half of 2021, up from $5.5 billion in the same period last year.
Arts
(1)
(0)
Interesting NFTs
LemonGrass Lavender
Hey cutie! I'm LemonGrass Lavender. In high school, I was voted biggest teacher's pet. I was voted biggest teacher's pet in college. I can't wait to wake you up at 4am for seemingly no reason.
The Rare Pearl Moon with Motion
Motion Version Part of my moon series. This super rare pearl moon has just washed ashore on a remote tropical island beach, fining one of these rare Jems is like a total worldly treasure! These moons, only fall to earth once in a few million years! When I found this one I felt the luck that is said to come with this pearl moon.
Stay Free (Edward Snowden, 2021)
This unique, signed work combines the entirety of a landmark court decision ruling the National Security Agency's mass surveillance violated the law, with the iconic portrait of the whistleblower by Platon (used with permission). It is the only known NFT produced by Snowden. Produced using open source software. This auction is on behalf of Freedom of the Press Foundation. https://www.aclu.org/press-releases/appeals-court-strikes-down-nsa-phone-spying-program-aclu-lawsuit
Traffic
Traffic explores a crossroads between the metaverse & reality through organized chaos. The complexity of this aural / visual landscape demanded over 200 hours of design time between Slimesunday & 3LAU. Every detail of this piece was built from scratch, from the reflective puddled pavement to the stabbing synthesis of the song. We think we'll be spending a lot more time in the metaverse in the future, don't you?
#60649
By
OthersideDeployer