Following the successful performance of Grasshopper Capital Fund, which focused on infrastructure within blockchain ecosystems, the new fund will focus on digital assets and blockchain.
The Capital Fund I LP was closed last year following a public shift away from publicly listed tokens, but the new fund II LP will utilise the existing team at Grasshopper capital to focus on venture capital and asset management in the digital space.
The venture capital fund will be launched this later with TCM Global Asset Management, with a target size of US$25 million.
The new partnership will allow Grasshopper capital to have a global reach with executives around the globe looking at blockchain and distributed ledger technologies that are being developed and are scalable.
Chief executive of TCM Capital Jon Deane said he was excited about the increased footprint and what the partnership could deliver.
“Working with world class individuals has always been the focus of TCM Global Asset Management and we believe Grasshopper Capital is extremely complementary to our existing offerings and funds.
“We want the team to continue what they have been doing; navigating and identifying opportunities in the early stage, rapidly developing and commercialising blockchain technologies and providing investment access to accredited and sophisticated investors,” he said.
Grasshopper investment manager Frank Amato said that blockchain represented the next evolution of databases and represented a significant investment opportunity.
“Blockchain is really just the backend database that most users won’t ever see. When used efficiently, end users will not even know it is there.
“Whether it is a private or public blockchain will depend on the use case, however it represents a significant investment opportunity equivalent to the early days of the internet, with potential to disrupt multiple industries,” he said.
Fellow investment manager John Morris said Grasshopper was focused on providing unique deals given the under-utilisation of blockchain investing.
“The investment community is grossly under-appreciating the adoption and commercialization of blockchain technology in the financial markets.
“At Grasshopper Capital, we are looking to provide unique deal access to investors at the early stages of the investment cycle, to enable significant returns as these technologies are adopted”.