Morgan Creek Digital to Raise up to $500M for New Web3 Venture Capital Fund
Morgan Creek Digital is planning to raise up to $500 million for a new fund focused on early stage opportunities in artificial intelligence (AI), blockchain technologies, chips, and data. The firm is engaging with investors and partners in Europe, the Middle East, Africa, Asia-Pacific, and the U.S. The new fund will invest in companies that combine AI, blockchain technology, and associated chips to unlock data value. The firm anticipates that the Asia-Pacific and Europe, Middle East, and Africa regions will lead in technology advancements through increased investments in AI and blockchain. The company expects Asia-Pacific countries to nearly triple their investment in generative AI to $3.4 billion in 2024, while digital budgets for AI in Europe, Middle East, and Africa could grow by 40%, potentially adding $30 billion in new net investment by 2025.
