The German investment outfit Lennertz & Co. is set to become one of the largest funds of funds operating in the blockchain space as the firm seeks to raise $165 million for its third crypto-focused vehicle. In an interview with Fortune, Lennertz’s head of fund investments, Oksana Tiedt, said the fund has already had its first close, although she declined to share a figure.
A multifamily office established in 2015, Lennertz invests across different asset classes, including private equity and traditional venture capital. The firm began betting on the blockchain space around 2016, privately investing in one fund before launching a $35 million fund of funds in 2020 and a second $65 million fund in 2022.
