Asset management firm Arca closes $50m NFT fund

The oversubscribed round was capped at $50m and included investments from Alethea, CXIP and Recur

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Arca will use the fund to focus on digital property, in-game assets and NFTs – Photo: Shutterstock
                                

American asset management firm Arca has raised $50m (£36m) through the launch of its innovation division named the Arca NFT Fund.

The oversubscribed fund was capped at $50m and included further investments from Alethea, CXIP, Portals, Raremint and Recur.

“The developments in the NFT market over the past year have been transformative on multiple fronts,” said Arca portfolio manager Sasha Fleyshman in a press release.

“From collectibles to gaming, there is an exciting and natural entry point for many individuals in the NFT ecosystem.”

NFT-driven investments

US-based institutional investment firm Arca, which reported a total of $500m in assets under management at the end of the third quarter in 2021, has been actively investing in innovative start-ups within its portfolio.

In October, it launched its Endeavor Fund, an early-stage venture fund focussed on investing in forward-thinking founders across various segments of the digital asset ecosystem. It aimed to raise $30m in a new fund dedicated to NFTs one month later.

Arca said it will use the NFT fund to focus on expanding digital property capabilities and in-game assets as well as DeFi integrated NFTs and identity tokens.

The sund will also focus on investing in the tokens underpinning the ecosystem, such as gaming assets and metaverse related tokens that shape the fabric of the NFT economy.

“From collectibles to gaming, there is an exciting and natural entry point for many individuals in the NFT ecosystem: for creators via monetisation of product in a global market, for users via play-to-earn mechanisms and value accrual, and for projects via fundraising mechanisms of assets to capitalise the growth of the project,” added Fleyshman.

“We are energised by the rapid pace and maturity of this newest blockchain technology.”

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