According to TechFlow, on May 25, Hong Kong asset management company Metalpha has raised US$5 million from Bitmain for its Grayscale-based fund Next Generation Fund I, according to sources close to the company.
Metalpha is looking to raise $100 million for Next Generation Fund I, which it has set up in partnership with NextGen Digital Venture Limited. As of the end of March, Metalpha had raised $20 million toward that goal. The fund invests in Grayscale products through structured derivatives that grant access to digital asset portfolio pillars in a manner that complies with U.S. and Hong Kong law.
