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Ex-Citi trading exec launches $1.5bn crypto fund

Ex-Citi trading exec launches $1.5bn crypto fund

A former Citi trading executive has launched a $1.5 billion fund focused on investing in crypto infrastructure, blockchain protocols, and virtual worlds.

Hivemind Capital Partners will make investments in crypto companies, trade digital assets, and feature a dedicated “play-to-earn strategy” in the gaming space. Crypto infrastructure, blockchain protocols, open internet, programmable money and virtual worlds are all on the fund's agenda.

The fund is the brainchild of Matt Zhang, an ex-Citi head of structured products trading, who also created the Sprint investments team at the bank.

"We believe blockchain technology is a paradigm shift, and we are still in the early innings. Our mission is to provide start-to-finish capital and infrastructure solutions to visionary entrepreneurs and category-defining crypto projects," says Zhang.

As part of the launch, Hivemind has selected Algorand, the leading layer-1 blockchain, as a strategic partner to provide technology capability and network ecosystem infrastructure.

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