Marshall Wace – a hedge fund behemoth headquartered in London, UK – has reportedly planned down its pipeline for a significant initiative to establish its presence in crypto and blockchain. 

Specifically, The hedge fund – which is having nearly $55 billion in assets under its management currently – is reportedly working towards releasing a dedicated portfolio, catering to investments throughout the virtual asset sphere. 

The new project will reportedly primarily support the investment in privately owned digital finance firms, doing business in sectors such as blockchain and payments systems focusing on digital currencies and stable coins.

An update reportedly disclosed that Marshall Wace’s new digital finance portfolio will be taken charge of by Amit Rajpal, chief executive of Marshall Wace Asia and co-founder of Indian fintech establishment Niyogin.

The portfolio will reportedly employ an approach bearing resemblance to a freshly established healthcare fund, initially aiming at investments in companies prior to flotation, then holding onto them post-listing. 

The portfolio is reportedly believed to be dedicated to late-stage venture capital investments, together with infrastructure surrounding stablecoins.

The hedge fund company is still hosting discussions with different investors, regarding the scope of the new portfolio. Official confirmation or denial of the update is yet to be issued. 

In May, Marshall Wace reportedly took part in a $440 million fundraising round for Circle – a high-profile fintech entity from the US, developer of the USD Coin (USDC).