Evanston Capital Management (Evanston Capital), an alternative investment management firm, has completed the final close of ECM Blockchain Fund I LP with $58 million in capital commitments.
The fund closed above its original target of $50 million.
Evanston Capital believes that blockchain technology has the potential to contribute to breakthrough advances in a variety of business applications globally across industries. The fund provides investors with access to what Evanston Capital believes are leading blockchain venture capital managers that are primarily focused on early-stage investing. The fund intends to provide global exposure across blockchain investment verticals, including infrastructure, gaming, NFTs, Web3, decentralised finance and other segments that have the potential to deliver asymmetric returns.
Evanston Capital expects the fund’s capital to be nearly fully committed to underlying funds by the middle of 2022.