London-based hedge fund Marshall Wace, which manages USD 55bn in assets, is planning to start investing in areas such as digital currencies, stablecoins, blockchain, and payments, while crypto trading might come next, the Financial Times reported, citing undisclosed people familiar with these plans.
The fund is launching a portfolio that will scoop up stakes in privately owned digital finance companies that are at a late stage in their development, the report said, adding that Marshall Wace is still talking to potential investors in the new portfolio and the size of the launch is still unclear. The fund declined to comment.
This year, Marshall Wace has already invested in Circle, the issuer of the second most popular stablecoin, USD Coin (USDC). In May, Circle said it raised USD 440m from investors, including Marshall Wace.
Per the report, the infrastructure around stablecoins is a particular area of focus for the firm. The new digital finance portfolio will be headed up by Amit Rajpal, chief executive of Marshall Wace Asia and co-founder of Indian fintech firm Niyogin, it added.