Cathie Wood's Ark Investment raised about $16 million for new private crypto funds, according to U.S. Securities and Exchange filings.
The newly introduced crypto funds were halved between a domestic and a Cayman Islands-based version. The ARK Crypto Revolutions U.S.
Fund LLC raised about $7.3 million from nine investors, while the ARK Crypto Revolutions Cayman Fund LLC raised $8.99 million from a single investor totaling approximately $16.3 million.
The investment target wasn't capped, rather, it's “indefinite,” indicating the funds are open-ended with an exclusive list of investors who have access to it.Read more on investopedia.com