- Morgan Creek Digital has announced plans to raise up to $500 million for a new venture capital fund focusing on early-stage opportunities in AI, blockchain technologies, chips, and data.
- The firm is engaging with sovereign and institutional investors, company executives, and industry experts in regions such as Europe, the Middle East, Africa (EMEA), and Asia-Pacific (APAC) as part of its international expansion strategy.
- Mark Yusko, a partner at Morgan Creek Digital, emphasized the firm’s intention to spend more time in international markets to connect with top CEOs and partners through the global reach of Web3.
Morgan Creek Digital aims to raise up to $500 million for a new venture capital fund targeting AI and blockchain technologies, with a focus on global engagement.
Morgan Creek Digital’s Ambitious $500 Million Fundraise for Web3 Ventures
Morgan Creek Digital is gearing up to significantly impact the technological landscape by launching a new venture capital fund dedicated to early-stage opportunities in artificial intelligence (AI), blockchain, high-performance chips, and data. This $500 million fund aims to harness the growing potential of these technologies in driving innovation and economic growth.
Global Expansion and Strategic Engagement
As part of its comprehensive strategy, Morgan Creek Digital is actively pursuing engagements with sovereign and institutional investors, corporate executives, and industry experts across key regions including Europe, the Middle East, Africa (EMEA), and Asia-Pacific (APAC). This global outreach underscores the firm’s commitment to expanding its international footprint and fostering collaborative investment opportunities. Notably, in his remarks, Mark Yusko highlighted the firm’s dedication to forging connections with top-tier partners and executives through the expansive reach of Web3, emphasizing the international market’s pivotal role in their strategy.
Investing in the Future of AI and Blockchain
The new venture fund will strategically invest in companies that integrate AI, blockchain technology, and high-performance chips, aligning with the core tenets of Web3’s “ABCD” (AI, Blockchain, Chips, Data). Morgan Creek Digital is particularly interested in technologies that intersect multiple sectors, such as AI training data centers and Bitcoin mining operations that leverage high-performance chips. An example is the anticipated significant increase in AI and blockchain investments in the APAC region, with projections indicating a near-tripling of AI investment to $3.4 billion by 2024. Similarly, EMEA is expected to boost its digital budgets for AI by 40%, adding $30 billion in new net investments by 2025.
Conclusion
In summary, Morgan Creek Digital’s ambitious $500 million venture capital fund represents a significant step towards driving innovation in AI, blockchain, and high-performance technology sectors. With a strategic focus on global collaboration and investment, the firm is well-positioned to capitalize on the burgeoning opportunities these technologies present, ensuring long-term growth and market leadership in the evolving digital landscape.
