Marshall Wace is purportedly still debating the size of its new cryptocurrency portfolio with possible investors, according to media reports.
Marshall Wace, a London-based hedge fund behemoth with over $55 billion in assets under management, is allegedly contemplating a significant expansion into cryptocurrency and blockchain investing in the near future.
According to a storey published Tuesday by the Financial Times, the hedge fund company is preparing to create a specialised portfolio targeting investments in the digital asset market.
According to the article, which cites unnamed sources acquainted with the subject, the new effort would focus on investing in privately held digital finance businesses that are involved in sectors such as blockchain technology and payment systems for digital currencies and stablecoins.
Marshall Wace’s new digital finance portfolio is expected to be led by Amit Rajpal, chief executive of Marshall Wace Asia and co-founder of Indian fintech startup Niyogin, according to reports.
It is said that the portfolio would take a similar strategy to a recently-launched healthcare fund, which invests in companies before they go public and then holds onto them after they go public.
People with knowledge of the subject have allegedly stated that the portfolio will have a special emphasis on late-stage venture capital investments as well as the infrastructure behind stablecoins and other digital assets.
According to reports, the hedge fund business is still in the process of determining the size of the new portfolio to offer to possible investors. Cointelegraph reached out to the company for comment but did not get a quick response.
At the end of May, Marshall Wace joined in a $440 million funding round for Circle, a significant United States-based fintech company that is the creator of USD Coin (USDC), the second largest stablecoin by market capitalization behind Tether (USDT) (UDST).