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EVANSTON, Ill.–(BUSINESS WIRE<\/a><\/span><\/span>)–Evanston Capital Management, LLC (\u201cEvanston Capital\u201d), an alternative investment management firm, announced that it completed the final close of ECM Blockchain Fund I LP with $58 million in capital commitments. The fund closed above its original target of $50 million.\n<\/p>\n\n \nEvanston Capital believes that blockchain technology has the potential to contribute to breakthrough advances in a variety of business applications globally across industries. The fund provides investors with access to what Evanston Capital believes are leading blockchain venture capital managers that are primarily focused on early-stage investing. The fund intends to provide global exposure across blockchain investment verticals, including infrastructure, gaming, NFTs, Web3, decentralized finance and other segments that have the potential to deliver asymmetric returns.\n<\/p>\n \n\u201cWe\u2019ve been following the rapid developments in the blockchain space and investing in strategies with blockchain exposure for more than five years,\u201d said Adam Blitz, Co-Founder and Chief Investment Officer of Evanston Capital. \u201cWe established a dedicated investment committee to develop expertise, source and underwrite ideas in this space, leveraging our longstanding private markets network.\u201d Members of the blockchain investment committee include Blitz, Maneesh Gandhi and Michael Liddy, all partners at Evanston Capital.\n<\/p>\n \nA concentrated fund-of-funds approach allows greater diversification, providing exposure to a wider spectrum of emerging blockchain investment opportunities than a single manager approach. \u201cWe are very optimistic about how blockchain technology can be applied to create new disruptive business models in financial services, real estate, consumer services and other industries, and we are starting to see glimpses of this occurring,\u201d said Maneesh Gandhi.\n<\/p>\n \n\u201cBlockchain has become a magnet for entrepreneurs and software development talent, and we think that foreshadows rapid advancement of real-world applications that investors should want exposure to early in their lifecycles,\u201d added Michael Liddy.\n<\/p>\n \nEvanston Capital expects the fund\u2019s capital to be nearly fully committed to underlying funds by the middle of 2022.\n<\/p>\n \nAbout Evanston Capital<\/b>\n<\/p>\n \nEvanston Capital Management, LLC (\u201cEvanston Capital\u201d) is an active investor in hedge funds, private equity, venture capital and blockchain and other strategies such as thematic equity that it believes can meet investors\u2019 needs for total return, alpha, and diversification. Since Evanston Capital\u2019s inception in 2002, a key focus of the firm has been identifying early-stage investment managers it believes are capable of generating long-term value-added returns in complex, innovative strategy areas. Today Evanston Capital has more than 175 institutional investor relationships entrusting the firm with approximately $4.8 billion in assets under management (including uncalled capital commitments). For more information, please visit www.evanstoncap.com<\/a>\n<\/p>\n<\/p><\/div>\n