Morgan Creek Digital’s New Fund to Target AI, Blockchain, Chips, and Data

Morgan Creek Digital has announced its plan to raise up to $500 million for a new fund focusing on early-stage opportunities in artificial intelligence (AI), blockchain technologies, chips, and data. The firm aims to attract investments from sovereign and institutional investors, corporate officers, and industry experts from Europe, the Middle East, Africa, and Asia-Pacific regions. It also seeks to expand its presence in the United States.

The venture capital firm believes that EMEA and APAC regions will play a significant role in shaping the future of technology, particularly through increased investments in AI and blockchain. Mark Yusko, General Partner at Morgan Creek Digital, emphasized the importance of international markets in the context of Web3, highlighting the firm’s intention to collaborate with top CEOs and partners globally.

The new fund will focus on investing in companies that leverage AI, blockchain technology, and advanced chips to extract value from data, which Morgan Creek Digital refers to as the “ABCDs” of Web3. The firm is interested in technologies that span multiple sectors, such as high-performance chips suitable for AI training in data centers and cryptocurrency mining.

According to the company, APAC countries are projected to nearly triple their investment in generative AI by 2024, reaching $3.4 billion. Similarly, EMEA’s digital spending on AI is forecasted to increase by 40%, potentially resulting in an additional $30 billion in net investments by 2025. Yusko highlighted the technological advancements in the Middle East, describing it as a region experiencing a renaissance in cutting-edge technologies.

Since its establishment in 2018, Morgan Creek Digital has raised over $440 million and holds approximately 80 equity positions.