Pallotta Family Office Expands DeFi Investment Bets

Core Insights - The family office of Jim Pallotta is increasing investments in decentralized finance, reflecting a broader trend among private investment firms targeting digital assets [1][3] - Raptor Digital is aiming to raise $200 million for its second fund, following the success of its first $60 million fund that closed in 2023 [2][4] - A significant portion of family offices are now investing in cryptocurrencies, with a Goldman Sachs survey indicating that about one-third are involved, a notable increase from 2021 [4] Company Developments - Raptor Digital, previously known as RW3 Ventures, focuses on blockchain and artificial intelligence investments, and has a diverse portfolio including over three dozen companies [3][4] - The firm is backed by notable figures in finance, including Pallotta, who previously managed a $12 billion portfolio at Tudor Investment Corp. [5] Industry Trends - There is a growing interest in decentralized finance among U.S. finance veterans and European families, indicating a maturation of the sector after years of volatility [3] - Funding for companies in the Web3 ecosystem has surged, highlighting increased investor confidence in blockchain and crypto-related ventures [4]