This fund just raised $5m to solve crypto’s ‘warped’ model

▤ Summary

A group of high-profile crypto investors has locked up $5 million in a unit trust branding themselves the UpsideDAO, a type of decentralised organisation that replicates an investor syndicate but uses tokens to ascribe voting power to its members on new public-facing investment deals.The syndicate is one of the first multi-person investment groups in Australia that leverages blockchain technology to make decisions. It is backed by Apollo Capital Management, a Melbourne-based digital asset manager, crypto payments operator Banxa, crypto broker Caleb & Brown, and digital horse racing game Zed Run.

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