Focused on cryptocurrency investment firm Scalar Capital attracted additional funding from Bain Capital Ventures, Andreessen Horowitz partners Marc Andreessen and Chris Dixon, founders of Coinbase, Brian Armstrong and Fred Ersama, and angel investors Elad Gil.
So, if in January Scalar Capital managed assets for $8 million, after a new round of financing, this figure rose to $20 million in the portfolio of Scalar about 20 digital currencies, which the Fund intends to hold for the next 3-5 years, as it uses a long-term investment strategy.
"Bitcoin has a huge network effect, huge infrastructure, various custodial solutions and the futures market," explained Scalar Capital co — founder Linda Se why bitcoin is a key asset of the Fund.
Xie also believes that an Ethereum "the strong community". She stressed that she had never opened a short position on ETH, and that shorts in the cryptocurrency industry are "irrational." Scalar Capital invested in competitors Ethereum-Kadena and Dfinity, but refused EOS due to lack of decentralization.
Note that in the Scalar confident in the future of anonymous crypto-currencies as means of payment. That is why Monero and ZCash are also present in the Fund's portfolio.
Previously, mark Andreessen and several investment firms participated in the funding round of hedge Fund Multicoin Capital.
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