US Capital Global commits $10 million to NYCQ Fund LP
The private financial group founded in San Francisco, US Capital Global, is trying its hands in cryptocurrency and blockchain industry. As per the report surfaced on Monday, the FINRA licensed company will be placing $10 million accredited funds for equity stakes in NYCQ Fund LP. CityBlock Capital does the design of this private digital risk capital fund. The declaration is done with an intent to increase their crypto leverage and will help them to stand in the front line of the digital market.
The Fund has shared in some of the big firms of the cryptocurrency and Fintech industry, which includes Nomics, Bakkt, Coinbase, and Tagomi. Intercontinental Exchange launches Bakkt platform. They are the first in the world to test physically settled Bitcoin features.
The San Francisco based digital currency exchange firm had an annual turnover of $520 million in 2018. Nomics is a crypto asset data company, and Tagomi is a digital currency brokerage company.
US Capital Global’s CEO, Charles Towle has said if the low & medium investment amounts are combined with early liquidity opportunities. The Fund will give access to the blockchain infrastructure venture, which is generally accessible for the institutional stakeholders.
Bitcoin has achieved a four-fold rise in the market after the news of US Capital Global investment proposal surfaced. The leading cryptocurrency of the world has established itself at 13,868.44 on Coinbase exchange. Additional gains the market saw is investment from mainstream investors.
Barry Silbert, the creator, and chief executive of Digital Currency company, has said the economic ambiguity is because of the affluent price of Bitcoin. The economic change he talked about is the trade tension amid the US and China, which is leading to the tumble of the stock market.
NYCQ Fund is founded by CityBlock Capital, the digital venture capital open to the qualified investors from the US and overseas. The Fund is managed and advised by professionals having skill in the field and having deep expertise.
US Capital Global is approved by FINRA. The company manages direct venture funds and provides capital managing and capital raise facilities.