Blockchain Investment Firm Fortis Digital Raising $100M Fund

The fund focuses on altcoins and requires potential investors to have a minimum $2.5 million net worth.

AccessTimeIconMay 17, 2022 at 5:23 p.m. UTC
Updated May 11, 2023 at 6:45 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Blockchain investment firm Fortis Digital Ventures is raising $100 million for a digital asset fund with an altcoin focus that aims to bridge the gap between traditional and decentralized finance (DeFi), according to a press release. The fund requires clients to have at least a $2.5 million net worth to invest.

“Bitcoin remains a solid investment, but it is so widely traded now that it lacks the significant growth potential other more cutting edge altcoins can provide,” the company said.

  • Key Events You Shouldn't Miss at Consensus 2024
    02:13
    Key Events You Shouldn't Miss at Consensus 2024
  • What to Expect From Consensus 2024
    11:19
    What to Expect From Consensus 2024
  • Will Solana and Altcoins Dominate the Market Next?
    13:29
    Will Solana and Altcoins Dominate the Market Next?
  • What's Next for FIT21?
    07:15
    What's Next for FIT21?
  • The firm was founded by the managing partners of Fortis Financial Group, a Seattle-based registered investment adviser with about $250 million in assets under management. The Fortis Digital team includes Mike Boroughs, who led wealth management at Fortis Financial, and Chris Capriccio, who previously served as the vice president of engineering at LegalZoom, a company that helps customers create legal documents online.

    “While still in its very early innings, we believe the efficiencies and value created through blockchain ecosystems will accelerate global GDP (gross domestic product) and usher in a new era of disruption and innovation,” Boroughs said in the press release. “Our goal is to help people get into Web 3 and crypto at the ground floor to participate in the upside of a generational paradigm shift in technology.”

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



    Read more about