Cryptocurrency & Blockchain Business

NULS Secures Investment From US Hedge Fund

Blockchain infrastructure platform NULS has secured an investment of an undisclosed amount from U.S.-based hedge fund Ulysses Capital, which manages a portfolio around $1.5 billion of bonds-70 percent, and stocks-30 percent.

Apart from the investment, NULS agreed with Ulysses to collaborate to promote the NULS platform for various ICO projects.

The news of the investment sent NULS stock up 3.1 percent to $1.24, giving the project a market capitalization of just below $50 million, according to coinmarketcap.com.

Los Angeles-based Ulysses recently set up a crypto fund, and NULS is among the first investments by the hedge fund. They plan to increase the investment in cryptos and blockchain companies gradually.

NULS is looking at actively engaging with hedge and private equity funds and seek opportunities within traditional financial markets and with institutional investors. These will include joint investments in NULS-based Dapp and blockchain companies.

Ulysses Capital says it made the investment based on “the technical superiority of the NULS platform and the ability of the team to successfully launch Mainnet and align with Bitmain.”

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