Investcorp Rolls out First Institutional Blockchain Fund in the Gulf

Investcorp, a global manager of alternative investment products, has launched the first institutional blockchain fund in the Gulf Cooperation Council (GCC) aimed at propelling a blockchain-powered digital evolution.

Dubbed Lydian Lion, the blockchain fund also has a global investment mandate. It will be mainly rolled out to early-stage companies within the blockchain ecosystem in areas like data analytics, decentralized finance, platforms and exchanges, and blockchain infrastructure.

Gilbert Kamieniecky, the head of Investcorp’s technology private equity business, noted that the fund would be a stepping stone towards more innovations in the blockchain space as the digital economy continues to gear up. He acknowledged:

“We believe that blockchain technology and the ecosystem around it, will transform every facet of our economy much like the internet did in the 2000s.”

Kamieniecky added:

“We have already seen the potential of blockchain to disrupt existing markets and create new ones, such as the meteoric rise of the non-fungible tokens market that in just a few years has grown from under a billion to more than $40 billion.”

As a fast-growing technology area, Hazem Ben-Gacem believes blockchain technology should be accorded more global reach and institutional expertise. 

The Co-CEO at Investcorp added:

“Offering our clients innovative and bold investment ideas, backed by our disciplined and proven approach, has been a key element of our success over the last four decades.”

The GCC is a political and economic alliance of six Middle East nations: the United Arab Emirates (UAE), Kuwait, Oman, Saudi Arabia, Bahrain, and Qatar.

Meanwhile, a recent survey by Goldman Sachs, a leading global investment bank, noted that institutional interest in cryptocurrencies was witnessing strong growth because crypto exposure rose from 40% in 2021 to 51% in 2022. 

Furthermore, inflows into crypto investment products reached $193 million, a scenario that was last seen in mid-December 2021, according to digital asset management firm Coinshares. 

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