The deal is probably the first of its kind as two pension plans in Virginia are investors in a $40 million venture capital fund; other investors in the fund by Morgan Creek Digital include an insurance company, a university endowment and a private foundation; Katherine Molnar who is chief investment officer of one of the funds noted that Bitcoin is an emerging opportunity that offers an attractive asymmetric return profile; the new fund will invest in equity of companies involved in blockchain and digital assets; it will also hold some cryptocurrencies. Source
