An undisclosed endowment has signed up to a $40m cryptocurrency-focused fund managed by Morgan Creek Digital Assets that will make seed-stage and token-based investments.

An unnamed university endowment is among the investors to have signed up to a new $40m cryptocurrency-focused venture capital fund seeded by crypto investment management firm Morgan Creek Digital Assets, CoinDesk reported on Tuesday.
Morgan Creek’s vehicle is being anchored by two public pension funds, Police Officer’s Retirement System and Employees’ Retirement System, and will also be backed by an undisclosed hospital system, insurance firm and private foundation.
The fund will generally back seed-stage equity rounds but will…

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