🔥 Morgan Creek Digital Launches $500 Million Fund
posted 12 Jul 2024
American company Morgan Creek Digital plans to raise $500 million for its new Web3 Venture Capital Fund, which will focus on artificial intelligence, blockchain technologies, chip manufacturing, and data processing. This initiative is part of the firm’s strategy to expand its presence in Europe, Africa, and other regions, building on its already managed assets of over $440 million.
With the global reach of Web3, MCD will be spending more time in international markets looking to connect with the best CEOs and partners,stated Mark Yusko, Morgan Creek Digital General Partner.
The fund will prioritize investments in projects that span multiple sectors simultaneously. For instance, the development and production of high-performance chips could serve both AI training and data processing applications. Currently, Morgan Creek Digital representatives are engaging with institutional investors globally.
This vigorous activity stems from the company’s projections of a threefold increase in investments in generative AI across the Asia-Pacific region, potentially reaching $3.4 billion by 2024. Morgan Creek Digital analysts also emphasize the importance of investing in startups in the Middle East, a region they believe is experiencing a "renaissance of new cutting-edge technology."
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