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Fidelity Affiliate Morgan Creek Digital Joins $3.5 Million Blockchain Firm Funding Round

Blockchain analytics firm Elementus has raised $3.5 million from backers including a sister company of crypto-friendly asset manager Fidelity Investments.


Morgan Creek Digital leads fresh cash injection


As Fortune reported on Sept. 23, Elementus, which launched its offering in 2017, also gained capital from Stage 1 Ventures and Robot Ventures.


Morgan Creek Digital, the crypto-focused asset manager co-founded by well-known commentator Anthony Pompliano, led the round.


The tie to Fidelity came in the form of Avon Ventures, a subsidiary of the private equity arm of Fidelity’s parent company, FMR.


Blockchain-not-Bitcoin investments decline


According to Crunchbase, the $3.5 million is only the second for Elementus, having secured $800,000 in a seed round in April 2018.


The company provides insights into the cryptocurrency sphere, one recent expose in August highlighting exchanges’ handling of illicit proceeds from alleged Ponzi scheme PlusToken.

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