Overstock Completes Deal to Convert Medici Ventures Into Fund Managed by Pelion
The deal is part of Overstock’s plan to exit its blockchain-related investments.
The Guggenheim Active Allocation Fund could invest in bitcoin derivatives among other assets.
A division of Cowen created in March is managing the fund.
The Boston-based firm's investments will be focused on northeast U.S., it said.
The fund has already invested in six firms, including the Safello crypto exchange.
The funds are each bringing $20 million in investment to boost growth and development for Solana in the Chinese region.