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
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OthersideDeployer
ˈSÄ-V(Ə-)RƏN-TĒ
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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
Her Mind Had Gone Out For A Stroll & Fallen Down The Rabbit Hole
Her Mind Had Gone Out For A Stroll & Fallen Down The Rabbit Hole' is the first programmable piece of art by Kitty Bast. The owner constructs, modifies & tattoos their very own Doll Lady... Is she falling down a rabbit hole, lost in a sea of cats or gazing into the unknown void? Do you like Pink Ladies or Lilac Ladies? Or do you pick the Wild Card? There's always a wild side to an innocent doll face. Is she obsessed with crypto ponies or crypto kitties? Or does she have an insatiable desire for Mr. Honey Badger. Come inside and have a nice cup of NFTea with the bunnies. Is your lady chained to the blockhain? Does your lady shed Bitcoin tears or ETH tears? Does your doll face don a Rotten Heart? Do you HODL to the Moon to meet the ETH Kitty? Do you have an obsession for cyborgs or Puddin'? Would you like a slice of Death by Pink? Is The Cat's Eye green or golden? Little trolls with mini daggers not included. The cheshire cat might trade you his ears for your goggles. Modifications of the Host. How long is forever? Sometimes, just one second.
CryptoKitties
Good morning! Kitty #433195 here. I'm here to enjoy fighting for the people and eating lasagna. When I'm not talking about how much I lift, I'm running a podcast! We can be friends, but keep the ultra purrsonal stuff to yourself, please.