Arca, a compliant digital asset investment platform, has topped $500 million in assets under management (AUM). Simultaneously, Arca announced a new early-stage venture fund that has raised over $30 million.
According to a company release, the Arca Endeavor Fund (the Fund), an early-stage, closed-end venture fund focused on investing in founders across various segments of the digital asset ecosystem was oversubscribed above its $30 million funding cap. In early August, Arca launched its Digital Yield Fund, the first actively managed income fund in the digital asset space.
Having already made several investments, the Arca Endeavor Fund will target DeFi, Gaming, Web 3.0, Sports, Music and Fan Engagement, NFT Infrastructure, and Financial Services and Insurance.
David Nage, an original member of the Arca team, will serve as Portfolio Manager of the Fund. Nage said digital assets have fundamentally changed the dynamic between founders and investors:
“The Endeavor Fund signifies the shift in new social and economic paradigms occuring, creating new ways to serve the unbanked, and alter the models of the past few decades of tech exuberance. As such, our team’s extensive experience in traditional finance can help founders elevate both their vision and project reach, and ultimately amplify their growth.”
Jeff Dorman, Arca CIO, explained there is a symbiotic relationship between the Endeavor Fund and the Digital Assets Fund:
“Our newest Fund is doing more than simply writing a check. Endeavor is a hands-on commitment, poised to help projects grow through Arca’s extensive network of 400+ LPs, and amplified through a comprehensive system of marketing, market commentary, and so much more to bring the greatest possible exposure to potential clients, customers, and joint ventures.”
In a separate statement, Rayne Steinberg, CEO & co-founder of Arca, announced that in the third quarter of 2021 they surpassed $500 million AUM across their expanding family of products.
“Our planned growth is strategically aligned to the natural progression of the industry. This growth is the result of excellence across all areas of the business, projecting out through an increasingly trusted and respected brand. Our investor relations and client engagement team is the tip of the spear, where our products meet an increasingly sophisticated investor base. Their work educating traditional financial services firms has helped us achieve this milestone, and onboard investments from the most diligent and sophisticated investors, including foundations, pensions, and endowments. We will continue to bring our clients differentiated and unique products that meet their digital asset investing needs.”
He also noted that Arca recently partnered with Securitize to facilitate the issuance of the fund’s digital shares, ArCoin – a digital asset security. The partnership is said to be emblematic to their regulation-first approach along with like-minded companies dedicated to bringing next-generation asset management vehicles to the market.
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