- The fund targets institutional investors who want to leverage BTC growth
- The targeted conservative BTC-denominated yield is 5%
- Investors pay in USD; after the fund’s single close, it's converted into BTC
Meanwhile Advisors has launched the world’s flagship Bitcoin private credit fund - Meanwhile BTC Private Credit Fund LP – which targets institutional investors who wish to leverage BTC’s growth with an additional conservative BTC-denominated yield, Bankless Times learned from a press release.
Google and Altman led a $20M seed round
The parent company of Meanwhile Advisors is Meanwhile Group, which launched the first crypto-denominated life insurance company. It remains the only one in the world. The Group announced a $20 million seed funding round in June, led by Sam Altman, Google, and Lachy Groom.
Ensuring safety and quality
The new fund will serve as a dynamic alternative to existing ones with a yield targeting five percent. The company lends Bitcoin to all kinds of institutional investors and guarantees safety and quality via a rigorous assessment of creditworthiness. This approach mitigates risk more effectively than retail-focused platforms, which are associated with speculative lending.
Meanwhile Group CEO and cofounder Zac Townsend commented:
Meanwhile Advisors builds products that bridge the gap between fiat money and cryptocurrency. This private credit fund offers unparalleled potential for institutional investors to unlock the full value of their BTC holdings without compromising their ownership, seizing a unique opportunity for optimized returns.
Tax efficiency
Investors make contributions in US dollars, and after the fund’s single close, they are converted into BTC. This helps the fund avoid currency risk incurred by lending. Fees are in BTC, aligning interests between the fund and its limited partners.
Other benefits of the fund
Benefits of the fund include risk management, security, and expertise. It is based on top-grade security infrastructure, which makes BTC asset protection a priority. The fund boasts an expert team of professionals in finance with a deep understanding of institutional and cryptocurrency investments.
Meanwhile Group is working on a wide range of financial products denominated in cryptocurrency, which it plans to launch in the next few months. These include Bitcoin-covered term life insurance and accidental death insurance.
Contributors
