Ulysses Capital, a diversified investment firm with over $1 billion in capital under management, has invested in NULS, a blockchain platform, for an undisclosed amount. This marks the first platform coin investment for the US-based hedge fund.
Recently, Ulysses Capital established a crypto fund with the aim to invest in cryptocurrency and blockchain companies. According to an article from the blockchain platform posted on Medium, the company was selected by Ulysses Capital because of its team development capability and product.
According to the report, Ulysses Capital currently manages around $1.5 billion in a long-short strategy. The firm’s portfolio is made up of bonds (70 percent) and stocks (30 percent). The firm has only recently begun to invest in crypto and blockchain enterprises and expects to increase its investments in this area gradually.
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Commenting on the investment, Joon Lee, the fund manager in charge of the Ulysses Capital’s Crypto Fund, said: “We highly valued the technical superiority of the NULS platform and the ability of the team to successfully launch Mainnet and align with Bitmain. We will build a win-win relationship with each other by creating more opportunities for NULS in the future.”
NULS To Secure Further Institutional Investments
The blockchain platform claims this is the first of many future investments by institutional investors, with the company stating that it will actively seek further cooperation with institutional investors to increase its value. By doing this, the blockchain company aims to raise itself to a leading position in the market.
The COO of NULS, Isaac Kim, added: “I’m pleased to see that NULS has been selected as the first platform-coin investment by a traditional hedge fund. Through this investment and partnership, NULS will continue to collaborate with renowned hedge and private equity funds and seek opportunities within traditional financial markets and with institutional investors including joint investments in NULS-based Dapp and Blockchain companies.”
In the article, the blockchain platform hints at further similar announcements such as these, by saying: “Keep your eyes on us in the days ahead.”