TL;DR
- Morgan Creek Digital has announced a new venture capital fund of up to $500 million to boost AI, blockchain, chips, and data analytics in EMEA and APAC.
- APAC is expected to triple its investment in generative AI to $3.4 billion by 2024, while EMEA could see a 40% growth in digital AI budgets, injecting $30 billion in new investments by 2025.
- The firm is currently in discussions with sovereign, institutional, and corporate investors in the target regions.
Morgan Creek Digital, a leading crypto investment firm, has announced plans to expand its global presence with the launch of a new venture capital fund aimed at emerging technologies. This fund, aiming to raise up to $500 million, is designed to drive initiatives in artificial intelligence (AI), blockchain, chips, and data analytics across Europe, the Middle East, Africa (EMEA), and Asia-Pacific (APAC).
The initiative is part of Morgan Creek Digital’s strategy to capitalize on the projected explosive growth in key sectors such as AI and blockchain in international markets. According to projections, the APAC region is on track to triple its investment in generative AI, reaching $3.4 billion by 2024. Meanwhile, digital AI budgets in EMEA are expected to grow by 40%, potentially injecting $30 billion in new investments by 2025.
Mark Yusko, General Partner at Morgan Creek Digital, emphasized the strategic importance of these emerging regions, particularly regarding the technological renaissance in the Middle East. Yusko stated that the fund will focus not only on disruptive technologies like AI and blockchain but also on advanced computing infrastructures and large-scale data analytics.
Morgan Creek Digital Has Raised Over $440 Million Since Inception
Founded in 2018, Morgan Creek Digital has already raised over $440 million and holds a diversified portfolio of approximately 80 equity positions. This new fund aligns with their commitment to integrating innovative technologies to unlock the value of data in Web3.
The firm is currently engaging with sovereign, institutional, and corporate investors in the target regions, as well as industry specialists in the United States, to secure necessary funding. The strategy aims to strengthen its global network and establish strategic partnerships with business leaders, in line with the vision of maximizing the potential of Web3 in a globalized market.
Morgan Creek Digital plays a visionary role in the convergence of AI, blockchain, and data analytics. With an eye on the future, the firm is poised to catalyze the development of technologies that will transform the future of the digital economy.
