Billionaire Paul Tudor Jones, former PepsiCo CEO Indra Nooyi and rapper James Todd Smith, aka LL Cool J, have become investors in a new cryptocurrency fund,
Yahoo! Finance .The fund was organized by American investor Glenn Hutchins with his son James and partner Travis Sher. His investors also include billionaire co-founder of investment firm Apollo Group Josh Harris, venture capitalist Jeff Young, CEO of SoFi and COO Anthony Noto, Wall Street manager and owner of the Florida Panthers ice hockey club Vincent Viola and ex-CEO of TD brokerage company. Ameritrade Joe Molla.The fund will be managed by James Hutchins, former head of research for one of the world’s largest technology investment funds Coatue Management, whose founder Philip Laffon is also an investor, and Travis Sher, who was previously responsible for investment management of the Digital Currency Group (DCG), which owns among others by Grayscale. DCG is also listed among the investors. To date, the fund has raised $ 72 million.“Cryptocurrencies promise not only to transform finance, but also to invent a new computing paradigm that will be as transformative as the personal computer, the Internet, mobility and the cloud,” said Glenn Hutchins.The fund has already made several investments, including in Dapper Labs, behind projects such as CryptoKitties, Flow and NBA Top Shot, as well as in startups Nori and Axelar.The fund’s organizers have extensive experience in investing in cryptocurrencies. Glenn Hutchins, for example, made famous by the success of the investment technology company Silver Lake, of which he co-founded, began investing in bitcoin in January 2016 at a rate of about $ 400.Paul Tudor Jones has previously spoken favorably about Bitcoin on several occasions and in May of last year
stated that he had “conservatively” placed 1-2% of his assets in cryptocurrency.