Morgan Creek Digital, the Chapel Hill, N.C.-based digital asset investment business of Morgan Creek Capital Management, LLC, held an $80m first close of its third venture fund focused on Blockchain technology and digital assets.
Morgan Creek Digital Fund III’s first close was anchored by a $66m commitment from Fairfax Employees’ Retirement System and Fairfax County Police Officers Retirement System. With a $400m target size, the fund will focus on investing in Blockchain Intelligence, which brings together both Blockchain technology and AI, across Digital Assets, DeFi (Decentralized Finance), and Data infrastructure companies.
The firm launched the digital arm in 2018 to focus primarily on venture capital investments in Blockchain technology and digital assets. Led by General Partners Mark Yusko, Sachin Jaitly, and Xavier Segura, MCD has deployed approximately $150 million across previous funds and some notable past portfolio investments include BlockFi, Figure Technologies, Coinbase, Bitcoin, Avanti Bank, and eToro.