Former Citi banker launches $1.5B crypto fund, taps Algorand as first partner

Former Citi banker launches $1.5B crypto fund, taps Algorand as first partner

A Wall Street veteran with over 14 years of experience has launched a new venture fund dedicated to cryptocurrency and blockchain startups, offering further evidence that smart money investors are pivoting to the emerging world of digital assets.

On Monday, former Citi executive Matt Zhang introduced Hivemind Capital Partners, a $1.5 billion multi-strategy fund designed to bootstrap promising crypto plays and “institutionalize crypto investing.” The fund will prioritize projects focused on building crypto infrastructure, virtual worlds and programmable money, and will also trade digital assets as part of its underlying strategy.

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