Hedge fund firm Marshall Wace, with $55 billion in assets, is reportedly gearing up to launch a portfolio investing in the crypto sector.
London-headquartered hedge fund firm Marshall Wace is planning investments in the crypto sector, the Financial Times reported Tuesday.
Founded by Sir Paul Marshall and Ian Wace in 1997, Marshall Wace currently manages $55 billion in assets.
The firm is launching a digital finance portfolio that will invest in privately owned, late-stage digital finance companies, the publication detailed, citing people familiar with the plan. It will target investments in areas such as blockchain technology, payments systems for digital currencies, and stablecoins. A particular area of focus for the firm is the infrastructure around stablecoins.
Marshall Wace is currently talking to potential investors for the new portfolio, which will be headed by Amit Rajpal, CEO of Marshall Wace Asia and co-founder of Indian fintech firm Niyogin.
Marshall Wace has recently been looking to hire staff in the crypto sector, the sources added. At the end of May, the company participated in a funding round for crypto firm Circle. Noting that the new business is still at an early stage, the publication conveyed:
The group plans to expand it rapidly in a move that could include other forms of investment, for instance potentially trading digital currencies.
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