For crypto-oriented funds, this has been a historic financial year so far. At first, Coinbase debuted massively, then A16Z raised the amount of $2.2 billion for its third crypto-related business. Now Acrylic, announced its debut with a $55 million debut fund. All those announcements are mouthwatering for youngsters as they are keenly looking to carve out their future in cryptocurrency trading.
All these numbers show that this chaotic market yet to skyrocket its peak. This investment was planned by Ash Egan, a solo GP of Brooklyn-based Acrylic. Previously, Egan was a partner with Accomplice. He also invested in ConsenSys Ventures. He says that earlier capital is an opportunity for crypto founders – even before the start of the company.
Ash Egan while talking about crypto, said it is secure to be business partners with founders who aim to build something huge with immense value in the market. Acrylic will invest in both equities as well as in the token market. Egan sees company headquarter in Brooklyn as such a competitive advantage as Brooklyn is a focal point, and it will help the company hire expert people. Acrylic has also invested in a couple of startup businesses, a bitcoin miner US BTC Corp, located in North America. The second one is Automata, which governs the token protocol.
According to Ash Egan, Acrylic is always willing to invest in startups in the widespread crypto universe. The Crypto market is growing at a rapid pace. It is difficult for companies to gain market share if they don’t move in today. Right now, Egan is operating in the crypto market as a solo investor of Acrylic. The company is searching for talent in the market. But no one has been hired. Egan believes that focusing on crypto today will pay dividends tomorrow.
Acrylic is focused on long-term crypto investment rather than focusing on daily price fluctuations. The recent surge of capital in cryptocurrency trading is an encouraging sign for investors if they are willing to invest for long-term gains. Many new startups, including Acrylic, are encouraging people to invest today and earn overtime.
