A leading cryptocurrency investment firm, Morgan Creek Digital, MCD has launched an ambitious $500 million plan that will see it gain a foothold in the rapidly growing world of Artificial Intelligence, AI as well as blockchain technologies. According to a statement by the company, the investments will also include chips and data.
Morgan Creek Digital’s Global Market Expansion
Morgan Creek Digital General Partner Mark Yusko says the firm has set its sights on the international markets given the global reach of Web3. The target is to collaborate with renowned CEOs and investors to achieve its ambition.
There are indications that MCD has commenced definite conversations with corporate officers, industry experts in the field of AI, and institutional investors. The talks currently focused on investors in Europe, Asia-Pacific (APAC), the Middle East, and Africa (EMEA) are geared towards the expansion of its reach.
The preference for these regions is based on the projection that the EMEA and APAC will lead the AI and blockchain technology soon. The firm is however in talks also with possible partners and investors in the United States.
Strategic Investments in Web3 Technologies
Notably, the $500 million funds will be invested in fundamentals of Web3, what the firm refers to as the “ABCDs”. According to Yusko, the investment will be in technologies that have overlapping uses in different sectors. That is chips with usability in Artificial Intelligence training or for Bitcoin mining.
As per projections, there is a positive forecast of a $3.4 billion investment in generative AI in the APAC region alone and a 40% growth in the digital budget of EMEA regions in 2024. These figures are expected to expand with an additional $30 billion cumulative investment by 2025. As such, the investment firm is optimistic about returns even as other players such as Pantera Capital is already expanding investments in the sector.
The Middle East Attraction
Yusko maintains that in particular, the Middle East is evolving as far as cutting-edge technologies are concerned. This explains the firm’s decision on the region.
Since 2018 when it was founded, Morgan Creek Digital has raised over $400 million and has about 80 equity positions. The firm is now embracing new technologies such as computing infrastructure, AI, and blockchain.
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