Fortis Digital Ventures raises $100 million for its new crypto fund
- ByStartupStory | May 18, 2022
Fortis Digital Ventures raises $100 million in funds dedicated to its digital assets fund focused on altcoins. As per the statement shared by the company, the funds clearly focus to bridge the gap between traditional and decentralised finance. Fortis Digital Ventures is a Seattle-based blockchain investment company founded by the managing partners of Fortis Financial Group having $250 million in assets under management positioned towards traditional finance.
Since bitcoin remains to be a solid investment but is so widely traded now that it has the absence of significant potential growth other than the cutting edge altcoins can have. The managing partner, Mike Boroughs said that the fund is focused to assist the investors in having the ground floor of an opportunity and will soon revolutionise the global gross domestic product (GDP).
He further said that the efficiencies and value formed through the blockchain environment would pace up the global GDP and escort in the new era of advancement and disruptions. The company’s goal is to facilitate people getting into Web 3 and Crypto in the initial stage to participate in the paradigm shift of technology
The fund also requires clients to possess a net worth of a minimum of $2.5 million to take part. The Fortis Digital team includes Mike Boroughs, who led the wealth management at Fortis Financial along with Chris Capriccio, who previously worked as the vice president of engineering at LegalZoom, a firm which helps customers create legal documents digitally.
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