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- 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 launching its Senior Credit Opportunities Fund (SCOPE) on the Solana blockchain. This is the first institutional fund to be launched on the network.
In response to this development, blockchain researcher Collin Brown expressed optimism, stating that this creative method could open the door for Solana ETFs and boost liquidity in traditional finance.
🚀 Big news in finance! Hamilton Lane, managing $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 enhance liquidity in traditional finance. 💼🔗 With partnerships and… pic.twitter.com/JspkMkZRUz
— Collin Brown (@CollinBrownXRP) July 23, 2024
Lowers Investment Barriers with Solana Blockchain Technology
This project is a collaboration with Libre, a Web3 protocol that Brevan Howard’s WebN Group and Nomura’s Laser Digital have funded. Libre’s infrastructure attempts to make alternative investments more accessible to the general public, rather than only the wealthy.
By using Solana’s capabilities, Libre enables frictionless entry into alternative asset markets, decreasing the investment threshold to as low as $10,000. This is accessible straight from investors’ phones, removing obstacles to entry.
The partnership’s primary purpose is to make alternative investments more accessible to a larger audience. Victor Jung, Hamilton Lane’s Head of Digital Assets, stressed the importance of this relationship for increasing investor access, efficiency, and transparency. He said:
“As a leader in the tokenisation of private markets funds, we are delighted to partner with Libre, who is 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 historical strong returns and performance opportunities generated within the private markets, while increasing efficiency and transparency for all investors.”
SCOPE Fund Offers 10% Yield
Hamilton Lane’s SCOPE, which began in 2022 with $556 million in assets under management, has an annualized yield of 10%. SCOPE, which is designed to provide exposure to a reliable private market approach, expands access to private credit alternatives through the Solana network.
Accredited, professional, and institutional investors can now gain direct access to top-tier funds on-chain while remaining compliant. Solana customers can also access the Brevan Howard Master Fund and BlackRock’s ICS Money Market Fund via the same feeder fund structure.
The private credit market, valued at more than $3.14 trillion, is appealing due to 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, stated:
“The launch of the Libre Gateway on Solana is a huge step forward to enable access to wealth and treasury management tools for users on Solana, and for Libre to take advantage of the low latency and throughput capability of Solana to launch new and innovative services.”
Hamilton Lane’s efforts to harness blockchain technology are not limited to Solana. The company has actively participated in tokenization activities, including a $47 million fundraising round by Securitize, a platform that tokenizes actual assets.
The Scope fund is also available on this platform, demonstrating Hamilton Lane’s commitment to employing sophisticated technology to increase fund accessibility.
Meanwhile, at the time of writing, Solana’s native token, SOL, was trading at around $177.76, down slightly by 0.58% over the last 24 hours and in a bullish position by 14.01% in the previous 7 days.
On the other hand, according to our prior report, Nate Geraci predicts that we will see a spot ETF that mixes Bitcoin, Ethereum, and Solana in the coming months.
