An American investor, philanthropist and just a regular billionaire Stephen Cohen, has recently invested in the Autonomous Partners hedge fund on behalf of his Cohen Private Ventures company. The hedge fund is crypto and blockchain oriented. The amount Cohen’s company has invested into the fund are not revealed.
Why it is important
- The agreement came to life in the period of a significant market drop compared to the last year's maximum. Other investors along with hedge fund managers continue to actively enter the market of cryptocurrency despite the ongoing downtrend.
- Cohen is one of the legends among traders, he is also number 102 in the world ranking of the richest by Forbes magazine, with a fortune of more than $12 billion.
In 1992, Cohen founded the SAC Capital Management LP hedge fund. The daily share of SAC accounts for about 2% of all stock market transactions.
Earlier, the Autonomous Partners Foundation, which was launched in 2017, by the crypto-enthusiast Arianna Simpson, who got funding from Brian Armstrong, the CEO of Coinbase and David Sachs, the co-founder of Craft Ventures.
In terms of investments, Simpson looks for companies that are focused on developing solutions to accelerate financial transactions and are in the infrastructure space of cryptocurrencies. She is also attracted by companies, which seek to solve blockchain scalability issues, and in anonymous cryptocurrencies.
According to Simpson, Autonomous Ventures allocates a small percentage of the fund's savings for investments in large cryptocurrencies, particularly in Bitcoin (Bitcoin) and Ethereum (ETH/USD)
Earlier, the hedge fund became the co-developer and co-investor of the protocol for the decentralized crypto exchange 0x (0xProject).
According to the Autonomous Research, since the industry’s existence, 249 cryptocurrency funds were developed, while 70 of them appeared just last year.