Matt Zhang, one of the legends of Wall Street for 14 years, is one of the largest banks in the world. from Citi He formally resigned from his managerial position. After leaving this seat, Zhang again entered an area related to the economy, namely the crypto money sector. Zhang, who used his 14 years of venture capital experience to set up a cryptocurrency fund, Hivemind Capital Partners introduced.
New Partnership for ALGO
The former executive of Citi revealed that the $1.5 billion multi-strategy fund is aimed directly at the crypto industry and admitted that it will target projects that are building new crypto infrastructures. These include “virtual world, programmable money and cryptocurrency infrastructure”. This seems to be an allusion to the metaverse rush, which is actually very popular.
The first partnership of Hivemind was for the leading altcoin Algorand. Proof-of-Stake focused Algorand has been building a significant infrastructure for the global financial industry lately, and this partnership actually came as no surprise. Algorand, which is in the Top 20, has a market value of 11 billion dollars and this fund actually corresponds to 10%.
Zhang also stated that after defining ALGO’s technology as revolutionary, his company will continue to support crypto investors and developers. Despite this, the company has not disclosed how much funds they have allocated to ALGO for now. Algorand has recently received significant investment and continues to evolve.
*Not Investment Advice.