Business

A hedge fund managers’ family office, innovative, and creating a dynamic portfolio

A growing group of hedge fund managers are reinvesting themselves as savvy and innovative investors in the venture world.  

Not least of these is Louis Bacon and his investment office, Moore Strategic Ventures

The New York City-based MSV has been interested in the more innovative spectrum of the venture world. Most notably is MSV’s investment in Commonwealth Fusion, the Boston-based group at the forefront of fusion energy development.  MSV has made two investments in the company, which is probably just as close as any group to making the ultimate energy technology a reality.

Bacon still runs his hedge fund business Moore Capital Management, which effectively morphed into a family office type structure after returning money to outside investors in 2019

Also, another interesting, innovative investment has been MSV’s backing of Ample. Ample’s swapping battery technology is designed to make it faster and easier to recharge electric vehicles. If the EV world adapts Ample’s system, then it has the potential to be truly transformative. 

No doubt MSV believes Ample will be, and that’s no doubt why it led the latest $160 million Series C round in the San Francisco-based group after backing them at a much early stage of their development in 2018. 

MSV has also backed cryptocurrency platforms like Bitwise, a crypto index fund manager, and London-based Blockchain.com, a cryptocurrency transaction platform. Bacon has also invested in cryptocurrency exchange Bullish, which will go public any minute through a SPAC arrangement. 

A closer inspection of its investments reveals that MSV likes EVs and technology related to the sector, cryptocurrencies and fintech, and dabbles in biotech. But there’s investment commitment across the board and commitment to many businesses much less innovative than Commonwealth Fusion or Ample. 

MSV also likes to invest outside of the US from time to time, including leading a recent round in Indian fintech, Khatabook. 

Given MSV’s wide variety and financial commitments to more than 35 rounds of venture investing since it was founded in 2014, you would expect a big team of investment talent backing the office. That might be the case, but it’s not apparent from any public records about MSV. 

Perhaps the connection to Bacon’s hedge fund in terms of personnel is strong. Bacon still runs his hedge fund business Moore Capital Management, which effectively morphed into a family office type structure after returning money to outside investors in 2019. 

What is for sure is that Bacon and MVS are among the most innovative investors around, helping to destroy the myth that hedge fund managers do more to destroy businesses rather than stimulate their growth. 

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