Fortis Digital Ventures nabs US$100Mn for a new crypto fund

Fortis Digital Ventures nabs US$100Mn for a new crypto fund

Fortis Digital Ventures, a blockchain investment firm, is reportedly closing a $100 million crypto fund intended to fill the gap between the new and old finance worlds. The move comes at a time when more traditional players are entering the crypto world.

Mike Boroughs, co-Founder and Managing Partner of Fortis Digital Ventures, said that by creating an investment fund that solely focuses on blockchain opportunities the firm gets time to spend more time performing due diligence on teams and technology in web3, providing insights regarding what is missing in the market.

If sources are to believe, the new fund will be run by Boroughs, who earlier co-founded an RIA which had under management assets of around $250 million, former head fund engineers and veterans and Chris Capriccio, co-founder and former VP of engineering at LegalZoom.

The fund is intended to make investments in blockchain easier and simpler via asset allocation, position-sizing, and risk management in crypto.

Mr. Boroughs said that the firm wants to make sure that the people it works with must have access to this space as the vehicles to invest in it via the traditional routes, like brokerage accounts, are lacking severely.

He claims that there is a huge demand for upgraded user experience in web3, and their firm believes the opportunities will be found by the unison of technology and user experience to support large-scale adoption. Fortis considers this a great opportunity for investors that are willing to dig through the rubble to find the gems.

The firm will focus on investing in companies in the web3 domain that are building better user experiences and solving real-world problems for businesses or people. He added that while projects that are weak could fail, those with, high scalability, high utility and low barriers to adoption will succeed.

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