Jim Pallotta’s family office, Raptor Group, is investing in decentralized finance with a new $200 million blockchain fund. Raptor Digital, focused on blockchain and AI, closed a $60 million fund in 2023. Other finance veterans like Stanley Druckenmiller are also increasing investments in digital assets.

The fund is set to launch in the coming weeks, targeting family offices and institutional firms. Pallotta, a former executive at Paul Tudor Jones’ hedge fund, joins others in the finance industry betting on decentralized finance. A survey by Goldman Sachs found a significant increase in family offices investing in cryptocurrencies.

Pallotta’s family office, Raptor Digital, was founded in 2021, partnering with former Bitgo Inc. executives. The company’s portfolio includes AI chip developer Cornami and digital asset recovery firm CAT Labs. Pallotta, a former co-owner of the Boston Celtics, oversaw a $12 billion portfolio at Tudor Investment Corp. before founding his family office.

Read more at Yahoo Finance: Jim Pallotta’s Family Office Anchors $200M Blockchain Bet