NGC has raised $20M for its targeted $25M Crypto fund
According to NGC ventures, the firm has raised approximately $20M out of its targeted $25m for crypto fund.
The targeted $25m crypto fund is meant to deploy a wide and several investment strategies ranging from buying tokens, equities, and structured products to quant trading, staking, and mining.
Tony Gu, an NGC founding partner stated categorically that the the venture firm is adopting an “all-round investment strategy” that focuses on different investment vehicles according to different stages of market cycles (accelerating growth, inflation, slowing growth, deflation).
NGC, a Singapore-based firm built its first fund in 2017 and has to date invested in over 50 projects, including Algorand, CoinFLEX, and DappReview. According to Jack Lu, NGC managing director the firm collected around 5x returns on its first fund and currently has around $400 million assets under management. Great success indeed, said the managing director.
NGC alongside two other Asia-based funds Fenbushi Capital and Dragonfly Capital could be likened to be among the ten most active crypto funds in 2019, proven by research.