Bitcoin Bull Chamath Palihapitiya’s Social Capital Will Fund Crypto Investors to Generate Returns for Them

  • The US-based venture capital firm Social Capital will launch a new program enabling investors from all backgrounds to employ the company’s resources to generate “outsized returns on an initial capital base of millions of dollars.”
  • SC’s founder and CEO, Chamath Palihapitiya, announced the new venture called Emerging Managers on Twitter. He highlighted several issues new investors could face when starting. Those include establishing a capital base without a track record, building an expensive infrastructure, finding partners, ad mastering the mental side of investing. 
  • The former Facebook executive pointed out that the Emerging Managers program will assist with the aforementioned problems. It will initially focus on US Public Equities. However, SC plans to expand its investment portfolio to include cryptocurrencies, worldwide public equities, venture capital, art, and more.

  • Applicants have until December 15th to send a cover letter of up to three pages describing their “background, strategy, and approach to generating outsized returns trading US equities.”
  • Social Capital will choose ten managers to work for a minimum of three years. Trading will begin in Q1 2021.
  • It’s worth noting that Palihapitiya is among the most well-known Bitcoin supporters. He has previously admitted that his first BTC purchase came in the early 2010s and that Bitcoin is his best investment bet

Featured Image Courtesy Of Medium

Publication date: 
11/12/2020 - 12:06
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