Rapper LL Cool J and hedge fund billionaire Paul Tudor Jones are among a number of limited partners backing a new $72 million Crypto fund created by North Island Ventures. Other big names involved include Apollo Group co-founder Josh Harris, SoFi CEO Anthony Noto and former PepsiCo CEO Indra Nooyi.
The fund itself was created by Glenn Hutchins, his son James Hutchins, and former Digital Currency Group investor Travis Scher. This fund has been quietly making investments in crypto and blockchain projects since early 2020.
The fund has already invested in seven projects which includes Dapper Labs. The company that created gaming dApp CryptoKitties as well as the Flow blockchain and NBA Top Shot. They have also invested in startup Nori which is working on a carbon removal marketplace. As well as Axelar which is focused on scaling cross-chain communication.
The elder Hutchins has been a proponent of crypto since 2015 and first invested in January of 2016. “Crypto promises not just to revolutionize finance but also to invent a new computing paradigm that will be as transformational as the PC, the internet, mobility, and the cloud.”
Glenn Hutchins One Of The Original Crypto Backers
Scher also praised Glenn Hutchins as being one of the original crypto backers. “Some people might see this story and think Glenn Hutchins is jumping on the bandwagon,” Travis Scher told CoinDesk in an interview. “The truth is that Glenn was one of the earliest very established leaders from the finance community to get behind this technology.”
Scher also tweeted about the fund itself and what they hope to accomplish with it. “We believe that crypto offers solutions to some of the world’s most pressing problems. Through this fund, they are supporting those that are bringing these solutions to life.”
Furthermore, Scher admitted that speaking with LL Cool J was unlike anything else he’s experienced. “I would say that pitching LL Cool J about our fund was a surreal experience,” said Scher. “I think people across a variety of industries, including entertainment, are curious about what opportunities this technology presents for them.”
Corey has been involved in media and writing since graduating from the illustrious Howard University with a degree in Broadcast Journalism. While relatively new to the cryptocurrency world, he has been writing since 2012 with most contributions coming in the sports world on websites such as LakersNation.com and DodgerBlue.com. Corey is also an avid sports fan who closely follows the Lakers, Cowboys, Dodgers, WWE, and UFC.
European Central Bank board member believes Bitcoin creator Satoshi Nakamoto did not understand money, warns of dangers from cryptocurrencies
Our Partners
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.