Evanston Capital Announces Final Closing of Blockchain Venture Fund of Funds

Evanston, IL - Evanston Capital Management, LLC ("Evanston Capital"), an alternative investment management firm, announced that it completed the final close of ECM Blockchain Fund I LP with $58 million in capital commitments. The fund closed above its original target of $50 million.

Evanston Capital believes that blockchain technology has the potential to contribute to breakthrough advances in a variety of business applications globally across industries. The fund provides investors with access to what Evanston Capital believes are leading blockchain venture capital managers that are primarily focused on earlystage investing. The fund intends to provide global exposure across blockchain investment verticals, including infrastructure, gaming, NFTs, Web3, decentralized finance and other segments that have the potential to deliver asymmetric returns.

"We've been following the rapid developments in the blockchain space and investing in strategies with blockchain exposure for more than five years" said Adam Blitz, Co-Founder and Chief Investment Officer of Evanston Capital. ​"We established a dedicated investment committee to develop expertise, source and underwrite ideas in this space, leveraging our longstanding private markets network." Members of the blockchain investment committee include Blitz, Maneesh Gandhi and Michael Liddy, all partners at Evanston Capital.

A concentrated fund-of-funds approach allows greater diversification, providing exposure to a wider spectrum of emerging blockchain investment opportunities than a single manager approach. ​"We are very optimistic about how blockchain technology can be applied to create new disruptive business models in financial services, real estate, consumer services and other industries, and we are starting to see glimpses of this occurring," said Maneesh Gandhi.