Yale University Invests in $400 Million Cryptocurrency Fund

Highly ranked university, Yale University, has been reported to have helped raise $400 million for a particular new cryptocurrency fund, according to Bloomberg.
With reports coming in on Friday, the Ivy League Yale University becomes part of the first crop of institutions to publicly ‘invest’ in a cryptocurrency related project. While many institutions, universities, and higher colleges continue to delve into cryptocurrency courses gradually, and blockchain research and projects, they have managed to deliberately stay away from involving themselves officially in cryptocurrency investments due to certain number of reasons: up until now.
Yale University has moved to back the major cryptocurrency fund, now called the Paradigm Fund. Paradigm was reportedly created by Fred Ehrsam, Coinbase co-founder, Matt Huang, and Charles Noyes, formerly of stalwart crypto fund, Pantera Capital; the former also being an erstwhile Sequoia Capital partner. The Paradigm fund has long been in incubation given Huang was reported by the Wall Street Journal at that time to have left Sequoia Capital in June for the sole purpose of founding the fund together with Ehrsam.
Yale’s $29.4 billion endowment has been the second largest this year among other higher institutions in the United States, but it is yet to be determined how much the Ivy League University actually invested. Bloomberg, reporting, cited the source as anonymous.
With an endowment fund of almost $30 billion headed by expert David Swensen, it is only significant and commendable that Yale has joined the few Universities that have decided to invest in cryptocurrencies. Swensen is seen as a trail-blazer in institutional investing and has more than three decades of experience under his belt.
With a good budget on hand, Bloomberg reports that about 60 percent of Yale’s assets for 2019 fiscal year are to be channeled into “alternative investments” including “venture capital (VC), hedge funds and leveraged buyouts.”
While Yale has been known for peculiar investments in the past, such as in Puerto Rican bonds, and similar strange ventures, today’s report marks the first foray of the University into the cryptocurrency sector.

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