Harvard, Stanford, MIT Endowments Invest in Crypto Funds
Source: News by FinTech Collective, 11 Oct 2018, Gareth Jones
Hot on the heels of Yale's announcement last week, the endowments of Harvard, Stanford, Dartmouth, MIT and the University of North Carolina have announced investments into at least one cryptocurrency fund.
Last week, CNBC reported that the Yale University endowment had invested in Andreessen Horowitz’s $300 million crypto fund as well as in Paradigm, a new fund being launched by Matt Huang, a former Sequoia partner, and Fred Ehrsam, the co-founder of Coinbase. University endowments and pension funds helped fuel the rise in venture capital, private equity and hedge funds as investment classes, and they are now among the largest investors in such funds.
In particular, Yale’s endowment, which had more than $29 billion in assets under management as of June, the second-largest endowment after Harvard’s, is seen as a bellwether by other investors as one of the first large endowments to move into asset classes that are considered risky.