Monday, April 22, 2024

A private equity firm funded by Alan Howard has raised $750 million for a cryptocurrency fund

10THoldings, a private share firm supported by Alan Howard, amassed $750M for a new cryptocurrency investment fund. The firm’s founder is Dan Tapiero, a crypto-bull with a vision to reach the top players in the cryptocurrency industry. Before 10T, Tapiero worked with many leaders in the finance industry such as SAC Capital Advisors, Duquesne Capital Management, and Tiger Management.

One of Tapiero’s key backers is Alan Howard, a hedge fund manager cum billionaire. 10T has also garnered support from public pension groups like Michigan’s Municipal Employees’ Retirement System.

10T Holdings is a fairly new player in the crypto arena, but it is one of the fastest-growing companies in the industry, especially for upcoming investments and backing. Tapiero’s 10T started looking for additional funding in 2020. By that time, the company had already organized nearly 80 percent of its funds in mid to late-phase companies.

At the moment, eleven companies have a similar investment profile as 10T Holdings. Each of these companies has a $500 million valuation or more. Some companies are blockchain in industry lenders like Figure Technologies, while some specialize in hardware wallet like Ledger SAS.

In an interview, Tapiero stated that the options are increasing in the cryptocurrency industry. The pipeline has grown immensely in the past three years.

Notwithstanding the latest market crash that plummeted bitcoin to $42,800, Taperio remains optimistic about this cryptocurrency. He added that there are large amounts of volatility in these budding markets because players are still trying to determine the right prices. Tapiero believes Bitcoin will shoot up to $400K or $500K or maybe more. However, this growth won’t be straightforward.

A recent KPMG report found that investment in cryptocurrencies like Dogecoin and the use of Blockchain in FinTech doubled in the current year compared to 2020.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
RELATED ARTICLES

Most Popular