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Cathie Wood's Ark Launches Private Crypto Fund, Raises $16.3 Million

Cathie Wood's Ark Investment has raised more than $16 million for two new private crypto funds as digital assets resume rally despite increasing regulatory pressure.

According to recent filings with the U.S. Securities and Exchange Commission, Ark Invest has raised $16.3 million for a crypto fund split between a domestic and a Cayman Islands-based version.

The ARK Crypto Revolutions U.S. Fund LLC raised $7,281,630 from nine investors, while the ARK Crypto Revolutions Cayman Fund LLC raised almost $9 million from one backer. The filings show both funds opened for investments starting this month. 

For the overall target, Ark checked “Indefinite,” meaning the fund is open-ended. These two new funds are private and open only to a small number of investors.

It is worth noting that Ark Invest has been bullish on crypto firms despite the recent crypto meltdown and increasing regulatory scrutiny. Specifically, the fund has been interested in shares of major US-based cryptocurrency exchange Coinbase. 

(By Ruholamin Haqshanas)

Cathie Wood Ark Invest
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