Macro investor Dan Tapiero is launching another multi-million dollar fund to invest in mid-to-late stage companies in the digital asset ecosystem.
According to a notice of a securities exemption offer filed with the United States Securities and Exchange Commission on Monday, Tapiero and its 10T Holdings partners Michael Dubilier and Stan Miroshnik notified the regulator of a fund of $ 500 million growth for crypto and blockchain companies. The record shows that the fund has yet to sell any of the original investments.
The 10T DAE Fund 3.0 is the third to come from the private equity firm, after a $ 200 million fund launched in February and a $ 750 million fund in September. The company lists 14 crypto and blockchain companies in its portfolio, including Kraken, eToro, Huobi, Mercado Bitcoin, Gemini, Bitfury, and Ledger. With the addition of the $ 500 million fund, 10T Holdings’ assets under management (AUM) would likely exceed $ 1 billion – its website lists $ 770 million AUM at the time of publication.
Tapiero is no stranger to investing, but before the crypto boom some of his business was in gold. The founder of 10T Holdings also helped co-found Gold Bullion International in 2009 and has actively talked about the potential of the crypto ecosystem, including Bitcoin (BTC), as the adoption of digital assets accelerates.
Related: Why Dan Tapiero expects a massive Bitcoin shortage
According to data from Cointelegraph Markets Pro, the price of BTC is $ 51,140 at the time of publication, having risen more than 20% since falling to a monthly low of $ 42,000 on December 3. However, Cointelegraph reported that there were indications that institutional investors are still looking to buy crypto.