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morgancreekcap.com/morgan-creek-digital

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Investments

22

Portfolio Exits

2

Funds

3

About Morgan Creek Digital

Morgan Creek Digital Assets is a multi-strategy investment firm focused on providing access to blockchain technology and digital assets for institutional clients and wealthy family offices. MCBC is backed by Morgan Creek Capital Management, a multi-billion dollar asset manager based in the United States.

Morgan Creek Digital Headquarters Location

301 West Barbee Chapel Road Suite 200

Chapel Hill, North Carolina, 27517,

United States

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Latest Morgan Creek Digital News

Morgan Creek Digital's Leaked Investor Call Reveals The Current Situation Of BlockFi

Jun 30, 2022

The firm is currently valued at less than $500 million BlockFi's loan to 3AC amounted to $1 billion of which two-thirds was in BTC while the rest was in GBTC A leaked investor call from hedge fund Morgan Creek Digital has suggested that the firm wants to acquire BlockFi and counter FTX’s BlockFi bailout with a $250 million credit line. However, as per a report, the call also revealed that BlockFi's valuation is less than $500 million. As first reported by CoinDesk , the leaked investor call suggested that Morgan Creek Digital wants to acquire BlockFi crypto exchange and is in talk with investors for raising $250 million to counter FTX's bailout via a $250 million credit line. Morgan Creek is also an early investor in the crypto exchange and BlockFi's deal with FTX would give the exchange the option to buy the firm at "essentially zero price,” said Morgan Creek Digital managing partner Mark Yusko. If FTX were to exercise this option, the chances of the hedge fund recouping its investment turn zero because all of its existing equity from BlockFi’s will be cleared. However, according to TheBlock , there are three other major things that came out of the leaked investor call. The first and foremost is the fact that the firm is currently worth less than $500 million. Yusko explained that a $250 million equity offering would buy 51% of the company while current stakeholders will be reduced to 49%. This is significant because the firm was valued at $5 billion in its last funding round. Furthermore, another important detail gained from the investor call is the fact that BlockFi had loaned Three Arrows Capital around $1 billion, and as the firm went bankrupt, the exchange received a heavy blow. The loan was overcollateralized by around 30% as Morgan Creek co-founder Anthony Pompliano stated that two-thirds of it was bitcoin while the remaining was GBTC. “All of this has been reported from them [BlockFi] to us,” Pompliano said. Additionally, BlockFi might lay off more employees after recently cutting its staff short by "roughly 20%." "They’ve already imposed draconian measures,” Yusko said, “80 percent layoffs — actually higher than that, 85 percent layoffs.”  BlockFi's interest account is one of the best in the market, netting you between 3% and 8.6% compounding interest on your crypto holdings. Photo: blockfi.com © Copyright IBTimes 2022. All rights reserved. Related Stories

Morgan Creek Digital Investments

22 Investments

Morgan Creek Digital has made 22 investments. Their latest investment was in BlockApps as part of their Series A - IV on April 4, 2022.

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Morgan Creek Digital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/19/2022

Series A - IV

BlockApps

$41M

Yes

11

3/16/2022

Series B

Hex Trust

$61M

Yes

6

3/7/2022

Series A - II

24 Exchange

$7.03M

Yes

5

11/19/2021

Series A

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$99M

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10

9/21/2021

Series B

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$99M

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10

Date

4/19/2022

3/16/2022

3/7/2022

11/19/2021

9/21/2021

Round

Series A - IV

Series B

Series A - II

Series A

Series B

Company

BlockApps

Hex Trust

24 Exchange

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Amount

$41M

$61M

$7.03M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

11

6

5

10

10

Morgan Creek Digital Portfolio Exits

2 Portfolio Exits

Morgan Creek Digital has 2 portfolio exits. Their latest portfolio exit was 21Shares on December 07, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/7/2021

IPO

$99M

Public

1

1/11/2021

Acquired

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$99M

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10

Date

12/7/2021

1/11/2021

Exit

IPO

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

Public

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Sources

1

10

Morgan Creek Digital Fund History

3 Fund Histories

Morgan Creek Digital has 3 funds, including Morgan Creek Digital Fund III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/28/2021

Morgan Creek Digital Fund III

$80M

1

10/22/2019

Morgan Creek Blockchain Opportunities Fund II

$99M

10

2/12/2019

Morgan Creek Blockchain Opportunities Fund I

$99M

10

Closing Date

6/28/2021

10/22/2019

2/12/2019

Fund

Morgan Creek Digital Fund III

Morgan Creek Blockchain Opportunities Fund II

Morgan Creek Blockchain Opportunities Fund I

Fund Type

Status

Amount

$80M

$99M

$99M

Sources

1

10

10

Morgan Creek Digital Team

1 Team Member

Morgan Creek Digital has 1 team member, including current Founder, Anthony Pompliano.

Name

Work History

Title

Status

Anthony Pompliano

Full Tilt Capital, Meta, and U.S. Army

Founder

Current

Name

Anthony Pompliano

Work History

Full Tilt Capital, Meta, and U.S. Army

Title

Founder

Status

Current

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