RIT invests in COSIMO Ventures tokenised fund

Blockchain

Rochester Institute of Technology (RIT) has become the first US university to invest in Cosimo Ventures’s new, blockchain-focused tokenised fund, Cosimo X.

Based in Boston and Dublin, Cosimo Ventures is an investment firm focused on deep tech companies. This is the first time that any university in the US has invested directly in a tokenised venture fund.

Harvard, Yale and MIT have all made indirect investments into digital assets and blockchain tech through traditional venture funds previously, such as Andreesen Horowitz and Paradigm.

RIT is the first to directly hold a tokenised economic interest in digital security form however, according to Robert Frasca, managing partner of COSIMO Ventures.  

There is a multi-trillion-dollar growth opportunity in decentralised software protocols that COSIMO is aiming to capture, in Frasca’s view. “Of course, we feel that the structure of the fund is very appealing, but we are just as excited about the opportunities that the fund will continue to invest in,” he explained.

COSIMO X focuses on investing in businesses that utilised digital assets and blockchain protocols to further advance the emerging digital economy.

Frasca added: “Yes, the tokenised vehicle is exciting, but we believe that the growth that we can foster as an investment firm will be what really resonates with our investors. Once the market fully understands the benefits of tokenisation as it relates to fund investing, a structure like ours might become the market standard.”

Founded in 1829, RIT enrols about 19,000 students in more than 200 career-oriented and professional programs, making it one of the largest private universities in the US. Its global partnerships include campuses in China, Croatia, Dubai and Kosovo. 

According to James Watters, senior vice president for finance and administration at RIT, the COSIMO team’s deal flow has sourced unparalleled investment opportunities and the fund has one of the most appealing economic structures in the market today.

“The COSIMO team has completely redesigned the way venture capital investing works by heightening valuation transparency, enhancing liquidity, and generating economic incentives for long-term holders,” said Carlos Domingo, co-founder and CEO of Securitize, which has been selected as the issuance technology for the COSIMO X tokens.

“By deploying our Securitize ID and Instant Access products in tandem with the token, Cosimo investors have access to groundbreaking tech that enables instant trading of securities in a compliant way that leverages the broadest set of wallets such as Coinbase Wallet,” he added.