Key Takeaways
- • Bushra Hamid, a 19-year-old Harvard undergraduate, has teamed up with three schoolmates to form Plympton Capital, a hedge fund for investing in digital currencies, according to Bloomberg.
- • Plympton aims to launch in six to eight weeks with an initial $1 million, and has already raised $700,000 from friends and family.
- • The fund is named for a street in Cambridge, Massachusetts, and is one of several crypto-focused vehicles drawing interest from young investors in April 2018.
- • A separate Reuters report describes a start-up founded by three Princeton graduates that raised $133 million for a cryptocurrency venture, indicating the scale of capital flowing into the sector.
Summary
Bushra Hamid, the 19-year-old daughter of Syrian immigrants, has joined three schoolmates to form Plympton Capital, a hedge fund dedicated to investing in digital currencies, according to Bloomberg. Hamid said the group aims to launch within six to eight weeks with an initial $1 million under management. The fund has already raised $700,000 from friends and family. Plympton takes its name from a street in Cambridge, Massachusetts.
The venture reflects a broader wave of interest in cryptocurrency-focused investment vehicles among students and recent graduates. Bloomberg framed the effort as the latest generation of Harvard entrepreneurs seeking to capitalize on the cryptocurrency boom, following earlier Harvard-linked technology founders in software and social networking.
Reuters separately reported that a start-up launched by three Princeton University graduates for a new cryptocurrency had raised $133 million, underscoring the scale of capital moving into digital-asset ventures at the time. Details of that raise were limited in the available coverage.
The available coverage does not include the full Bloomberg article, so the fund's strategy, fee structure, and regulatory arrangements are not confirmed in the sources reviewed.
The venture reflects a broader wave of interest in cryptocurrency-focused investment vehicles among students and recent graduates. Bloomberg framed the effort as the latest generation of Harvard entrepreneurs seeking to capitalize on the cryptocurrency boom, following earlier Harvard-linked technology founders in software and social networking.
Reuters separately reported that a start-up launched by three Princeton University graduates for a new cryptocurrency had raised $133 million, underscoring the scale of capital moving into digital-asset ventures at the time. Details of that raise were limited in the available coverage.
The available coverage does not include the full Bloomberg article, so the fund's strategy, fee structure, and regulatory arrangements are not confirmed in the sources reviewed.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.