Millennium Spinoff Modular Hires Liebau for Blockchain Strategy

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(Bloomberg) — Modular Asset Administration, a hedge-fund spinoff from Israel Englander’s Millennium Administration, employed Daniel Liebau as chief funding officer for a method that can deal with sustainable blockchain applied sciences. 

Liebau, the founding director of Lightbulb Capital, will report back to Modular Chief Government Officer Jimmy Lim and be primarily based in Singapore, in line with an e-mailed assertion Wednesday. Modular manages about $1 billion. 

Modular expects property below administration for Liebau’s technique, which can spend money on blockchain applied sciences primarily based partly on their sustainability metrics, to rise to $1 billion to $2 billion “in time,” a consultant for the corporate stated. The individual didn’t say how a lot cash it’s beginning with. 

“The form of crypto-native sustainability and ESG metrics that we’re growing will likely be good indicators of elementary worth,” Lim stated in an e-mail. “We anticipate to have the ability to decide the long-term winners and survivors in an asset class the place many will fail.”

Lin William Cong, an affiliate professor of finance at Cornell College’s S.C. Johnson Faculty of Enterprise, and Alex Edmans, a professor of finance at London Enterprise Faculty, are becoming a member of the blockchain technique as educational advisers.

 

©2022 Bloomberg L.P.

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