TLDR:
- Morgan Creek Digital plans to raise up to $500 million for a new web3 fund targeting AI, blockchain technology, chips, and data.
- The firm aims to expand its footprint in Europe, the Middle East, Africa, and Asia-Pacific.
Morgan Creek Digital recently announced its plans to raise up to $500 million for a new fund that will focus on early stage opportunities in artificial intelligence (AI), blockchain technologies, chips, and data. The firm is engaging with sovereign and institutional investors, corporate officers, and industry experts in Europe, the Middle East, Africa (EMEA), Asia-Pacific (APC), and the United States as it looks to expand its regional presence. The firm aims to invest in technology that combines AI, blockchain technology, and chips to unleash value from data, focusing on finding companies that overlap sectors.
The EMEA and APC regions are expected to lead the way in future technology advancements, with increased investments in AI and blockchain technologies. Morgan Creek Digital General Partner, Mark Yusko, emphasized the importance of international markets and the growth potential in these regions, particularly highlighting the flourishing technology scene in the Middle East. The company aims to connect with the best CEOs and partners in these markets.
With a track record of raising over $440 million since its establishment in 2018 and holding about 80 equity positions, Morgan Creek Digital is well-positioned to drive innovation and growth in the Web3 space. The company’s focus on the “ABCDs” of Web3 and its strategic investment approach highlight its commitment to fostering advancements in AI, blockchain, chips, and data technologies.
As APAC countries are projected to triple investment in generative AI and EMEA digital budgets for AI are expected to grow significantly, Morgan Creek Digital is poised to capitalize on these trends and fuel further innovation in the global technology landscape.
