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Morgan Creek Digital to Raise up to $500M for New Web3 Venture Capital Fund

Jul 11, 2024
  • Morgan Creek plans to raise up to $500 million for a new web3 fund.
  • The firm is looking to expand its footprint in Europe, the Middle East and Africa, and in Asia-Pacific.
As an analyst with a background in technology investment, I find Morgan Creek Digital’s plan to raise up to $500 million for a new fund focusing on early-stage opportunities in AI, blockchain technologies, chips, and data, particularly intriguing. The firm’s expansion into Europe, the Middle East, and Africa (EMEA) as well as Asia-Pacific (APAC) regions is a smart move given the significant investments these regions are making in AI and blockchain.Morgan Creek Digital aims to garner approximately half a billion dollars for a fresh investment fund focusing on budding possibilities in artificial intelligence (AI), blockchain technologies, microchips, and data storage, according to a statement released on Friday.

As a researcher, I’m exploring ways in which our firm is expanding its presence both in Europe, Middle East, and Africa (EMEA), and Asia-Pacific (APAC) regions. To accomplish this, we are engaging with sovereign and institutional investors, corporate executives, and industry experts from these areas. In addition, we are holding discussions with U.S.-based investors and partners to broaden our network and strengthen collaborations.

As a crypto investor, I’m excited to hear that venture capital firms are ramping up their investments in the EMEA (Europe, Middle East, and Africa) and APAC (Asia Pacific) regions when it comes to cutting-edge technologies like AI (Artificial Intelligence) and blockchain. These areas are expected to shape the future tech landscape significantly with their substantial commitments in these fields.

“Mark Yusko, General Partner at Morgan Creek Digital, mentioned in a statement that due to the expansive influence of Web3, his team will be devoting additional efforts to forging connections with top-tier CEOs and business allies in various parts of the world.”

The new investment fund focuses on putting resources into businesses that harness the synergy of AI, blockchain technology, and related semiconductors in the Web3 realm. Our preference leans towards technologies that straddle sectors, such as high-performance chips capable of powering AI processing in data centers or facilitating Bitcoin mining operations.
According to the company’s projections, investments in generative AI in APAC countries are anticipated to nearly triple, reaching approximately $3.4 billion in 2024. Meanwhile, EMEA regions are forecasted to witness a 40% expansion in their digital budgets for AI, which could potentially result in an additional $30 billion in new investments by 2025.

“Specifically, the Middle East is experiencing a technological revival with innovative advancements,” Yusko noted.

As a researcher, I’ve discovered that Morgan Creek Digital, which was established in 2018, has managed to amass over $440 million in capital through various investments since then. Currently, the firm holds approximately 80 equity positions.

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2024-07-12 10:22