$12 Billion University of Michigan Endowment Might Deepen its Crypto Stake

Institutional investors are finally wading into crypto. Want proof? The University of Michigan’s $12 billion endowment said it could increase its investment in a crypto-network technology fund managed by American venture-capital firm Andreessen Horowitz. Financial terms weren’t disclosed, but the latest cash infusion into Andreessen’s CNK Fund would add to the $3 million the university invested in the fund back in June 2018. The CNK Fund invests in cryptocurrency startups.