Former Microsoft strategist Joe McCann’s new crypto fund Asymmetric has gained backing from a16z’s Marc Andreessen and Solana cofounders Anatoly Yakovenko and Raj Gokal, The Block reported.
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Fast facts
- Asymmetric is aiming to raise US$1 billion to be split into a venture investment fund and a liquidity fund, the report said.
- Asymmetric also received support from a16z’s Chris Dixon, CMS Holdings cofounder Daniel Matuszewski, FTX, Circle, and Multicoin Capital managing partners Kyle Samani and Tushar Jain.
- Tiger Global founder Scott Shleifer has signed on as a limited partner in Asymmetric.
- The venture investment fund will operate like a Wall Street hedge fund, diversifying risk across tokens rather than betting on the success of one cryptocurrency, according to The Block.
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