Investcorp rolls out global institutional blockchain fund from Abu Dhabi

Investcorp on Monday has launched a blockchain-focused global institutional fund based in the Gulf Cooperation Council, allowing investors to gain early exposure to the decentralized space, according to a release on the investment firm's website. The so-called eLydian Lion fund, which will be led from Investcorp’s Abu Dhabi office, will invest in early-stage businesses within the blockchain ecosystem, the company said, citing blockchain infrastructure, platforms and exchanges, decentralized finance, and data analytics. "This new Fund will support the most innovative entrepreneurs from around the world who are developing the blockchain ecosystem and defining what the future digital economy will be,” said Gilbert Kamieniecky, head of Investcorp’s Technology Private Equity business. Meanwhile, blockchain-based cryptocurrencies such as bitcoin (BTC-USD -6.0%) and ethereum (ETH-USD -8.4%) are falling to key levels of support intraday. Previously, (March 28) Crypto exchange FTX mulled forming a fund of funds as institutional interest expands.