Report: Yale University Invests in Cryptocurrencies
Yale University, the Ivy League school whose endowment is the second-largest in higher education, has invested in Paradigm, one of the largest investment funds and one that recently raised around $400M for investment in cryptocurrencies.
The fund, dubbed ‘Paradigm,’ was reportedly created by Coinbase co-founder Fred Ehrsam, former Sequoia Capital partner Matt Huang, and Charles Noyes, formerly of stalwart crypto fund Pantera Capital.
Yale’s endowment currently stands at $29.4 billion, a record high, following a return of 12.3 percent during the fiscal year that ended on June 30. A majority of those assets, 60 percent, are directed at alternative investments.
Yale’s investments represent a much-needed vote of confidence for an asset class that’s been hammered in 2018 following a historic rally last year and has yet to see the support of major endowments and foundations.
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