London, UK – VG Fund Management (VGFM) has announced its intention to deposit an initial sum of $300 million into DB3 Bank, with an option to increase to $500 million. VGFM incepted the “VG Precious Metals and Crypto Fund” in March this year and the investment into DB3 Bank would complete the second investment tranche.
VGFM is a US based fund management group which provides a wide range of investment banking, financial advisory and management services to high net worth individuals, corporations as well as institutional clients. The first tranche of VG Precious Metals and Crypto Fund was completed in March this year with funds of $300 Million invested into gold, silver and bitcoin. Since then, gold has been seen appreciating steadily, silver doubling up and bitcoin more than doubled its value.
“Our first investment tranche for this fund was targeted at gold, silver and bitcoin and we know from past experiences that these assets have got a volatile history. Bitcoin went from a high of $20,000 in 2017 to the recent low of $3,000 plus in 2018. Gold and Silver both have its moment of price volatility. However, we believe all three assets are embarking on a long bull run and we are really satisfied that we are already invested.” Mr. Noel Sinclair, Chief Operating Officer of VGFM was seen sharing his thoughts during an online conference on Zoom.
When quipped about the second investment trench, Mr Sinclair continued, “As for the second investment trench, we have settled for something less volatile to balance up the fund a bit. We wanted something with potential, something possessing tremendous growth but at the same time able to offer us a minimum fixed interest. DB3 Digital Bank is able to fulfil all our criteria. We will be depositing $300 million with DB3 plus an option to increase this amount to $500 million. A fixed interest has been agreed on the $300 million deposit and we have also negotiated an undisclosed rights to DB3’s cryptocurrency, The DB3 Token.”
VGFM has been eyeing the cryptocurrency and digital banking sector since 2019 and this collaboration with DB3 bank helps in fast tracking the company into the mix. DB3 bank has been one of the top digital banks to emerge during recent time and had recently released its Digital Assets Management Mobile App. “We did our homework, if you look at the value and total quantity of DB3 Token, the total market value of these tokens are massively undervalued. Its intrinsic value is at least 50 times more than its current market value and we are looking forward to a win-win relationship with DB3 Bank in exploring the digital finance sector. Intrinsic value aside, it is important for two collaborating companies to believe in the same set of values and principles. We are glad to be aligned in this aspect.” added Mr. Dan Logan, VGFM Chief Executive Officer during the same online conference.
With the second investment tranche of VG Precious Metals and Crypto Fund nearing completion, attentions are now switched to the third tranche. There are already talks of the third tranche being China’s very own central bank digital currency, CBDC which is central to the current US-China Trade War and the fight for global monetary supremacy.
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