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.
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Interesting NFTs
Icy Ragdoll Mauveover
Good day! I'm Icy Ragdoll Mauveover. In high school, I was voted biggest teacher's pet. In my free time, I can usually be found gorgeous or pole dancing. I like your face.
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hairy by Steve Aoki x Antoni Tudisco. Comes with Infinite Objects screen!
Banksta
Pump, dump and bump Banksta to death. Demon or dead normal? Print fiat at will. What more do you want?
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The eye of providence blinks. Originally posted to tumblr June 26, 2012.
The Harvest
An anthropomorphic figure stands, wide eyed, staring at the viewer; its body masculine, muscular, and humanoid. Its “mind” dissociates into a conglomerate of structures resembling feathers, grain, teeth–as well as a radial flower “node”, casting linear rays throughout the composition.
To his left, a vat of bodies gesture and writhe in a kind of amniotic soup, attended by a video game robot. The bot's red display reads “uWu”.
Behind the robot and filling the left side of the composition is an archaic figure composed of a variety of vintage objects and symbols. Among them are a hardbound book with ancient cuneiform scripts, indicating barley, beer, bread, ox, house, and sky, behind which is a grimacing, salivating jagged toothed maw; and an old Commodore floppy drive. The figure’s head tilts toward an illuminated crescent moon, suggesting the Egyptian Sacred Bull.
The archaic figure is composed of a variety of mutating cells, which shift in color, and pattern; eventually breaking free into an ephemeral broadcast of bubbles which move across the background.
The work came into being against a psychological introspection, which included associations to pop culture such as alien abduction and pod people, as well as quite a bit of reflection on grains as a symbol of civilization, agriculture, sustenance, life, and imbibing (mainly whiskies).