U.S. hedge fund veteran Jim Pallotta's family office plans to launch a new $200 million fund focused on cutting-edge technology fields such as blockchain

ChainCatcher news, according to Bloomberg, the family office of hedge fund veteran Jim Pallotta is expanding its bets on decentralized finance (DeFi).

According to informed sources, Pallotta's Raptor Group is acting as the main investor, supporting a venture capital firm of the same name in raising its second fund—this fund focuses on cutting-edge technologies such as blockchain. The sources, who requested anonymity, stated that Raptor Digital plans to raise $200 million from the family office and institutional investors. After returning the principal to existing investors of the first fund, the new fund is expected to officially launch in the coming weeks. The 67-year-old Pallotta was a former executive at Paul Tudor Jones' hedge fund, and he not only invested in Raptor Digital's $60 million first fund completed in 2023, but the fund also received financial support from a division of Abu Dhabi's Mubadala. Raptor Digital, headquartered in Boston (formerly known as RW3 Ventures, which also focused on artificial intelligence investments), declined to comment.