Public Pension Fund invests $50 million in Morgan Creek's new blockchain fund

Morgan Creek Digital has raised its first $60.9 million in funding for its second venture capital fund, which has a financing target of $250 million. Morgan Creek revealed that the same institution that had invested in the first fund had more than doubled its investment in the second fund, including two public pension funds. The police retirement system and employee retirement system in Fairfax County, Virginia, invested a total of $50 million in the second fund, which is higher than the $21 million invested in the first fund in February. The remaining $10 million comes from other institutional investors, including Wakemed Medical and Hospital, an insurance company and a university endowment fund.