Hamilton Lane launches the first institutional fund on Solana, democratizing alternative investments. Collaboration with Libre lowers investment thresholds, enabling broader access to private credit opportunities.
Hamilton Lane, a global investment leader with over $900 billion in assets, has launched its Senior Credit Opportunities Fund (SCOPE) on the Solana blockchain. It is the first institutional fund launched on the network.
In response to this development, blockchain researcher Collin Brown expressed optimism, saying that this creative method could open the door to Solana ETFs and promote liquidity in traditional finance.
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🚀 Big news in finance! Hamilton Lane, which manages $900B in assets, is launching a tokenized version of its $556M SCOPE Fund on the Solana blockchain. This groundbreaking move could pave the way for Solana ETFs and improve liquidity in traditional finance. 💼🔗 With partnerships and… pic.twitter.com/JspkMkZRUz
— Collin Brown (@CollinBrownXRP) July 23, 2024
Lower investment barriers with Solana Blockchain technology
This project is a collaboration with Libre, a Web3 protocol funded by Brevan Howard’s WebN Group and Nomura’s Laser Digital. Libre’s infrastructure aims to make alternative investments more accessible to the general public, rather than just the wealthy.
Using Solana’s capabilities, Libre enables frictionless entry into alternative asset markets, lowering the investment threshold to as low as $10,000. It is accessible directly from investors’ phones, removing barriers to entry.
The partnership’s primary goal is to make alternative investments more accessible to a wider audience. Victor Jung, Hamilton Lane’s Head of Digital Assets, highlighted the importance of this relationship for increasing investor access, efficiency and transparency. He said:
“As a leader in the tokenization of private markets funds, we are delighted to partner with Libre, who are at the forefront of innovations in the fund distribution space, to reach a broader range of investors as they launch on Solana. This launch will expand access to the historically strong returns and performance opportunities generated within the private markets, while increasing efficiency and transparency for all investors.”
SCOPE Fund offers 10% return
Hamilton Lane’s SCOPE, which launched in 2022 with $556 million in assets under management, has an annualized return of 10%. Designed to provide exposure to a trusted private market approach, SCOPE expands access to private credit alternatives through the Solana network.
Accredited, professional and institutional investors can now gain direct access to top tier funds in the chain while complying. Solana clients also have access to the Brevan Howard Master Fund and BlackRock’s ICS Money Market Fund via the same feeder fund structure.
The private credit market, worth more than $3.14 trillion, is attractive because of its strong yields and diversification benefits. Hamilton Lane’s SCOPE Fund is an evergreen private credit vehicle that provides monthly liquidity. Solana customers can access it through the HL SCOPE Access fund.
Dr. Avtar Sehra, Libre’s CEO and founder, said:
“The launch of the Libre Gateway on Solana is a major step forward in enabling access to wealth and treasury management tools for users on Solana, and for Libre to take advantage of the low latency and throughput capabilities of Solana to deliver new and innovative introduce services. “
Hamilton Lane’s efforts to utilize blockchain technology are not limited to Solana. The company has actively participated in tokenization activities, including a $47 million fundraising round through Securitize, a platform that tokenizes real-world assets.
The Scope fund is also available on this platform, demonstrating Hamilton Lane’s commitment to using sophisticated technology to increase fund accessibility.
Meanwhile, Solana’s native token, SOL, was trading at around $177.76, down slightly by 0.58% over the past 24 hours and in a bullish position through 14.01% in the previous 7 days.
On the other hand, according to our prior reportNate Geraci predicts that in the coming months we will see a mock ETF that mixes Bitcoin, Ethereum and Solana.
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