- The financial giant has filed a new application with the SEC
- They want to open Blockchain Fund II
- This is a private equity fund with a minimum amount of $100,000
Renowned asset manager Franklin Templeton recently announced the launch of a metaverse-focused exchange-traded fund. He also began integrating with the Polygon network and the Stellar ecosystem. But the blockchain plans of the company do not end there. According to the new applicationthe financial heavyweight plans to launch a second blockchain fund.
In the documents, the new project is listed as Blockchain Fund II. This is a private equity fund, for its participation, clients must invest at least $100,000. And the upper investment limit is very modest – $20 million.
Note that the first blockchain fund Franklin Templeton has been operating since 2021 and positions itself as a venture capital fund. There, the minimum investment starts from $1 million.
The new fund, which will be launched this year, will be a private equity fund. It will offer a private placement primarily to accredited investors. As well as working with 35 non-accredited investors.
Franklin Templeton recently made headlines for being the first tokenized money market fund. They use the Polygon blockchain to process transactions and register share ownership.
The company’s head of digital assets, Roger Bayston, stressed the importance of the move. He stated that the partnership with Polygon will provide greater interoperability with the digital ecosystem.