TechFlow News — Meanwhile Group, backed by Sam Altman, announced that its investment management subsidiary, Meanwhile Advisors, has launched a private credit fund focused on Bitcoin, offering institutional investors a new channel to gain exposure to Bitcoin.
The fund aims to raise $100 million by the first quarter of 2024, with primary returns generated from Bitcoin lending activities and a targeted yield of 5%.
The minimum investment is $250,000, with a three-year investment period, a four-year harvest period, and a total fund term of seven years. Capital will be returned gradually during the harvest period, with the majority expected to be recovered within seven years.
The fund charges fees in Bitcoin, with a 2% management fee and a 20% carried interest. Anchorage Digital will serve as the fund’s custodian.
