One of Arrington XRP Capital’s largest, limited partners (LPs), injects a fresh $30 million into the digital asset firm, as stated by its founder Michael Arrington. He further added that the fund has now surpassed its initial target of raising $100 million.
Arrington disclosed this in an exclusive interview with CoinDesk,
“The reason is, like everyone, we didn’t do particularly great last year, but we did better than the market. And that was a win.”
The First announced at Consensus: Invest 2017, the TechCrunch founder never disclosed his eponymous fund’s LPs (other than to indicate that Ripple is not one of them.
The fresh capital has enabled the company to acquire another fund, Australia’s ByteSize Capital. Founded by brothers Ninos and Ninor Mansor have joined Arrington XRP as partners. Arrington also announced that Experian alum Geoffrey Arone will move from being a partner to an advisory role.
Ninos Mansor said he appreciated the experience that Arrington and fellow Arrington XRP partner Heather Harde brought to the table:
“One thing that stood out to us as we discussed a merger was the fact that they’ve been working together for over a decade. Two tech booms gives you scars and judgement that you just can’t replicate.”
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