VC Stars & LL Cool J Hunting ‘Extraordinary Momentum’ In Crypto

Private equity veteran Glenn Hutchins together with other business partners has launched a new venture capital crypto fund, Yahoo! Finance reported, citing Hutchins.

Among the investors in the fund that has already raised some USD 72m are Bitcoin (BTC) bull hedge fund billionaire Paul Tudor Jones, former CEO of PepsiCo, Indra Nooyi, and a famous American rapper, James Todd Smith, a.k.a. LL Cool J, and other high profile investors, according to the report.

The fund has already made seven investments so far, including Dapper Labs, Nori, and Axelar, it added.

“Crypto is no longer just a fringe technology movement. There is extraordinary momentum behind decentralized solutions to some of society’s biggest problems, and our goal at North Island Ventures is to partner with the top entrepreneurs in the world bringing these solutions to life,” partner at the fund, Travis Scher, was quoted as saying.

Meanwhile, recently, Glenn Hutchins, the Chairman of North Island and a board member of the Federal Reserve Bank of New York, poured scorn on those who would seek to drive a wedge between blockchain and protocols like the Bitcoin network. He said that the two were “inseparable,” and talking about networks without mention of their proprietary tokens was “like talking about a car battery and not an internal combustion engine” on a car.
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