Alan Howard-Backed 10T Raises $750 Million for Debut Crypto Fund

Private equity firm 10T Holdings raised $750 million for its first fund to pursue investments in fast-growing cryptocurrency companies.

It started gathering money from investors at the end of last year and has already deployed about 80% in mid-to-late stage companies in the ecosystem for digital assets, according to founder Dan Tapiero, who started 10T in 2020 after more than two decades of macro investing. Billionaire hedge fund manager Alan Howard is among the fund’s biggest backers, along with public pensions including the Municipal Employees’ Retirement System of Michigan, Tapiero said in a phone interview.

Alan Howard

Photographer: Hollie Adams/Bloomberg

“The space is ...