Tad smith jp morgan private bank9/17/2023 He has some of the biggest names in digital assets and on Wall Street backing 1RoundTable, including hedge fund billionaire Alan Howard who is taking an unspecified general partner stake. He declined to comment on specifics of 1RoundTable’s fundraising and related terms, citing private placement regulations. Tapiero and his day-one team are ramping up marketing efforts, which are set to more formally commence next week. There has been a long time lack of big money interest and a shortage of capital put to work in terms of bringing crypto companies public, according to Tapiero, who cited Coinbase and Galaxy Digital Holdings as rare examples of the industry’s entities going public with a sizable market capitalization behind them. More specifically, the private equity fund wants to capitalize on the “optimal entry point now” to acquire “discounted” digital asset equity, the same materials said. 1RoundTable’s marketing materials reference the firm’s “deep…knowledge and connectivity” in digital assets. Its strategy is designed to tap the deep connections of the launch’s team. The fund’s focus, per the marketing materials, is to back the equity of mid to late stage digital asset companies with the “potential for outsized price appreciation over the next 5 – 10 years.” Two sources familiar with the matter confirmed aspects of 1RoundTable’s formation. “My hopes have always been - and this is 10T and - that we act as a bridge from the old world to the new world.” The impetus behind 1RoundTable? The opportunity, Tapiero said, to double down on 10T’s winning venture bets with acceleration capital - marketed in a way that appeals to both crypto natives and traditional finance investors alike, He and his 10T team passed on more than 100 deals last year, Tapiero said, “many of them because of extreme, dramatic overvaluations.” Tapiero has the final signoff on 10T’s investment activities, and it’s now his view that valuations are more attractive. “The crux of our strategy is to give people exposure to the digital asset ecosystem without all of the crazy volatility - without all the single-token exposure,” he said. That stigma has been fueled, Tapiero said, by out of touch US regulators and institutional investors who haven’t done their digital assets homework. Tapiero - whose long Wall Street resume includes Tiger Management - told Blockworks that 1RoundTable is “in a position to help this space” out of the “stigma” that still surrounds the cryptocurrency industry. Tapiero confirmed his firm’s launch in an exclusive interview with Blockworks. Those professionals - like Tapiero - will continue in their current 10T roles. The firm, which has evolved into one of the industry’s largest and most influential players, now has $1.2 billion in assets under management, inclusive of committed and investor capital.ġ0T’s investment activities are set to continue unaffected, with a number of its managing partners’ staffers moving over to the new venture. Tapiero is set to continue in his current role as 10T’s head. He’s targeting a whopping $1 billion capital raise by the end of the third quarter, when 1RoundTable’s flagship vehicle, 1RT Opportunities Fund, plans to conduct a capital close. The 10T founder is serving as 1RoundTable Partners’ chief executive, chief investment officer and managing partner. Tapiero is leading up the launch of the growth-focused private equity startup, dubbed “a natural evolution of the investment strategy created at 10T Holdings,” according to the firm’s marketing materials, which were obtained by Blockworks. Single Game Tickets Fiesta Legacy Membership Premium Parking 2023 Ticket Deposit Single Game Tickets Fiesta Legacy Membership Premium Parking 2023 Ticket Deposit Ticket Office: Tapiero of 10T Holdings is launching a crypto private equity fund amid deeply discounted valuations, targeting a $1 billion capital raise backed by hedge fund billionaire Alan Howard and a host of other prominent investors.
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