Mike Novogratz's Cryptology to invest $100 million in crypto venture funds

Cryptology Asset Group, an investment firm co-founded by billionaires Mike Novogratz and Christian Angermayer, has committed to invest $100 million in crypto-related venture funds over the next two years.

Announcing the news on Thursday, Malta-based Cryptology said it intends to invest in first-time funds and emerging managers that are focused on blockchain and crypto-related businesses. Cryptology is listed on several German stock exchanges, including Borse Dusseldorf, Gettex, and Tradegate.

"We are at the very beginning of the crypto revolution, and we strive to become one of the leading global investors in this very nascent asset class," said Angermayer.

Founded in 2018, Cryptology has $548 million in assets and its portfolio includes firms such as Block.one and Northern Data.

Novogratz is the CEO of crypto firm Galaxy Digital, which is involved in businesses such as trading, asset management, investing, and mining. Galaxy Digital is listed in Canada and hopes to list on a U.S. exchange in the second half of this year. Last month, the firm acquired crypto custodian BitGo for $1.2 billion.