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Former Fidelity Exec To Launch Crypto FOF, Targets Up to $100M
Summary: More and more fund managers want to participate in the growing crypto market. According to Blockworks, Michael Zinaman, the former Head of Product Strategy of Fidelity Digital Funds from Fidelity Investments, is launching a crypto FOF (Fund of Funds), called Dual Worlds Fund 1, which will back VCs and hedge funds focusing on digital assets. ...
More and more fund managers want to participate in the growing crypto market. According to Blockworks, Michael Zinaman, the former Head of Product Strategy of Fidelity Digital Funds from Fidelity Investments, is launching a crypto FOF (Fund of Funds), called Dual Worlds Fund 1, which will back VCs and hedge funds focusing on digital assets.
The fund mainly focuses on areas such as Decentralized Finance (DeFi), Non-Fungible Tokens (NFT), Metaverse, Web 3.0 and Play Earn Game (P2E).
Zinaman plans to raise an initial round for the flagship fund in February, with a second-round later this year targeting $50 million to $100 million, the sources said.
By Mary Liu
Tags: DeFi,Fidelity,FOF,fund of funds,Metaverse,Michael Zinaman,NFT,Web 3.0
Link: Former Fidelity Exec To Launch Crypto FOF, Targets Up to $100M [Copy]
