Former Ledger exec Jean-Michel Pailhon is raising an NFT art fund, hoping to secure up to $25 million from outside investors.

Now, he's focused on setting up what he terms a "global digital art investment fund" that looks to bring primarily non-crypto native investors into digital art.

Currently, most NFT investment vehicles feature heavy backing from those who already know their Meebits from their Miladys. Pailhon is aiming to reach past these web3 entrepreneurs to also attract private bankers, family offices, high-net-worth individuals and financial institutions.

As of last week, Pailhon had $2-3 million in soft commitments from private bankers and family offices and is aiming for a first close at $5 million. 

(By Tom Matsuda)