{"id":1270,"date":"2018-10-11T23:42:00","date_gmt":"2018-10-12T03:42:00","guid":{"rendered":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/financial-advisor-yale-said-to-invest-in-crypto-fund-that-raised-400-million\/"},"modified":"2021-11-02T19:09:56","modified_gmt":"2021-11-02T23:09:56","slug":"financial-advisor-yale-said-to-invest-in-crypto-fund-that-raised-400-million","status":"publish","type":"newsroom","link":"https:\/\/www.nepc.com\/private-wealth\/newsroom\/financial-advisor-yale-said-to-invest-in-crypto-fund-that-raised-400-million\/","title":{"rendered":"Financial Advisor: Yale Said To Invest In Crypto Fund That Raised $400 Million"},"content":{"rendered":"
[vc_row][vc_column width=”1\/1″][vc_column_text uncode_shortcode_id=”113070″]Yale University, the Ivy League school that has invested in everything from Puerto Rican bonds to timber in New Hampshire, is getting into the market for cryptocurrencies.<\/p>\n

The second-largest endowment in higher education is among investors that helped a new fund focused on digital assets raise $400 million, according to a person with knowledge of the matter, who asked not to be identified because the information is private. The fund, called Paradigm, was recently started by Coinbase Inc. co-founder Fred Ehrsam, former Sequoia Capital partner Matt Huang, and Charles Noyes, an ex-employee of crypto fund Pantera Capital.<\/p>\n

Yale, whose nearly $30 billion endowment is headed by David Swensen, is among the few large institutions to invest in the cryptocurrency market, which has tumbled this year after a stunning rally in 2017. The size of its investment in the Paradigm fund couldn’t be ascertained, and the New Haven, Connecticut-based school, didn’t immediately respond to a message seeking comment.<\/p>\n

While a wave of institutional capital could reverse the crypto slump, new entrants are being deterred by market manipulation and a lack of regulation. Ninety-six percent of endowments and foundations responding to a survey by consulting firm NEPC in February said they don’t invest in digital currencies.<\/p>\n

Investment Model<\/strong><\/p>\n

Swensen’s endorsement of crypto assets is significant because he’s considered a pioneer in institutional investing, having managed one of the most-watched and best-performing college endowments for three decades. Many other endowments have sought to replicate his investment model, which favors a longer time horizon and committing capital to more illiquid assets, including private equity.<\/p>\n

U.S. college endowments hold about $550 billion in assets, and Yale has the second largest in higher education, behind Harvard. Under Swensen’s leadership, Yale has returned 11.8 percent on average for the past 20 years.<\/p>\n

Almost 60 percent of Yale’s assets in fiscal 2019 are targeted for alternative investments including venture capital, hedge funds and leveraged buyouts, according to the school.<\/p>\n

Early Stage<\/strong><\/p>\n

Paradigm, which counts venture-capital firm Sequoia Capital as an investor, plans to invest in early-stage projects focused on cryptocurrencies, new blockchains and exchanges, Noyes told Bloomberg News in June. The firm declined to comment for this story.<\/p>\n

In addition to investing directly in digital coins, a number of crypto funds also invest in other funds and buy stakes in blockchain companies.<\/p>\n

Yale is a longtime investor in Andreessen Horowitz, which recently launched a $300 million crypto fund. Yale also has invested in this fund, CNBC earlier reported, citing unidentified sources.<\/p>\n

Read the article here.\u00a0<\/a>[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"

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