$12 Billion University of Michigan Endowment Might Deepen its Crypto Stake

2019-2-23 00:44

Institutional investors are finally wading into crypto. Want proof? The University of Michigan’s $12 billion endowment said it could increase its investment in a crypto-network technology fund managed by American venture-capital firm Andreessen Horowitz.

Financial terms weren’t disclosed, but the latest cash infusion into Andreessen’s CNK Fund would add to the $3 million the university invested in the fund back in June 2018. The CNK Fund invests in cryptocurrency startups. In a statement, the University of Michigan noted that Andreessen believes cryptocurrencies are “an important area of innovation” that demands further exploration and investment. “Crypto has become an important area of

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