Ark raises $16.3 million for new crypto fund amid buying spree
TL;DR Ark Invest, a fund manager focused on innovation, raised over $16 million for a crypto fund split across a domestic and a Cayman Islands-based version. The filings indicated that both funds opened for investments on March 1.
Innovation-focused fund manager Ark Invest raised more than $16 million for a crypto fund split across a domestic and a Cayman Islands-based version, according to filings with the U.S. Securities and Exchange Commission on Wednesday.
ARK Crypto Revolutions U.S. Fund LLC raised $7.3 million from nine investors, while the ARK Crypto Revolutions Cayman Fund LLC raised almost $9 million from one backer. CoinDesk first reported the news.
The filings indicated that both funds opened for investments on March 1.