Former Bain & Company executive launches $50M cryptocurrency fund for Latin America

posted 3 months ago
Some of the wealthiest families in Latin America now have access to a new way to invest, thanks in part to a former senior manager at consulting firm Bain & Company.

Announced today, the newly formed Crypto Assets Fund, co-founded by former senior manager at Bain, Roberto Ponce Romay, is helping to raise $50m with the purpose of buying cryptocurrencies for family offices. Revealed exclusively to CoinDesk, Crypto Assets Fund (CAF) will invest directly in bitcoin, ether, zcash, ripple, litecoin and dash.

The first tranche of the fund, estimated to be valued about $10m, is in the final stages of closing, and is expected to be announced by the end of this month.

In interview, Romay explained that the purpose of the fund was two-fold. First, it was designed to give investors in some of Latin America’s more unstable economies a new way to hedge their investments, and second, it was meant to provide the opportunity to safely learn about these new stores of value for possible future investments.
Tags: bitcoin, news, blockchain