Hivemind Capital Partners, an investment firm founded by former Citi exec Matt Zhang, announced its inaugural $1.5 billion venture fund to invest in blockchain and digital asset ecosystems.
Headquartered in New York, Hivemind will make venture investments in crypto companies, trade digital assets, and feature a first-of-its-kind, dedicated "play-to-earn strategy" in the gaming space. The investment firm will deploy capital in verticals including crypto infrastructure, blockchain protocols, open internet, programmable money and virtual world among others.
"We believe blockchain technology is a paradigm shift, and we are still in the early innings. Our mission is to provide start-to-finish capital and infrastructure solutions to visionary entrepreneurs and category-defining crypto projects," said Matt Zhang, Founder and Managing Partner of Hivemind. "The traditional asset management model is not designed to do this, which is why we are building a tailor made crypto investment platform from the ground up that also offers the infrastructure institutional investors need for risk management, compliance and security."
Improving digital ecosystems
Zhang is a 14-year veteran of the leading global investment bank Citi, where he worked both in the U.S. and Europe. In addition to his trading business responsibility, Matt created the bank's spread products investment technologies team, or SPRINT, to focus on investments in the fintech space. Mr Zhang is also a founding partner of Citi Impact Fund, which makes equity investments in "double bottom line" companies to help address some of society's most pressing challenges.
Hivemind Capital Partners ("Hivemind") is a crypto-focused investment firm dedicated to blockchain technologies, crypto companies and the digital assets ecosystem. Its inaugural multi-strategy venture will deploy capital in verticals including crypto infrastructure, blockchain protocols, open internet, programmable money and virtual worlds, among others
As part of the fund launch, Hivemind has selected layer 1 blockchain Algorand as a strategic partner to provide technology and network ecosystem infrastructure.
Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for anyone to transition into the new digital economy. The technology company has experienced zero downtime since launch and provides advanced yet easy-to-use tools, making it the blockchain technology of choice for thousands of organizations launching NFTs, payment solutions, regulated digital assets, new economic models, and DeFi offerings.