New blockchain investment firm fortis_digital is raising $100 million for an altcoin-focused fund that requires potential clients to have at least a $2.5 million net worth. BrandyBetz reports
New blockchain investment firm Fortis Digital is raising $100 million for a digital asset fund with an altcoin focus that aims to bridge the gap between traditional and decentralized finance , according to a press release. The fund requires potential clients to have at least a $2.5 million net worth to invest.
“Altcoin” is a catchall term for any digital asset that isn’t bitcoin. The Fortis Digital Asset fund filters liquid alt coins using a 100-point checklist and the highest rated of the bunch joins the portfolio, according to the. The checks include fundamental analysis of business structure, technology and tokenomics in order to choose those altcoins with the most favorable risk-reward balance. Fortis also conducts market research to determine the best entry and exit points for investments.
“Bitcoin remains a solid investment, but it is so widely traded now that it lacks the significant growth potential other more cutting edge altcoins can provide,” said the company. The firm was founded by the managing partners of Fortis Financial Group, a Seattle-based registered investment advisor with about $250 million in assets under management. The Forits Digital team includes Mike Boroughs, who headed wealth management at Fortis Financial, and Chris Capriccio, who previously served as the vice president of engineering at LegalZoom.
“While still in its very early innings, we believe the efficiencies and value created through blockchain ecosystems will accelerate global GDP and usher in a new era of disruption and innovation,” said Boroughs in the press release. “Our goal is to help people get into Web 3 and crypto at the ground floor to participate in the upside of a generational paradigm shift in technology.”
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