Amid crypto slump, Dunhill family office makes bet on its future
Though family offices in general have pulled back from cryptocurrency amid a steep decline in prices, one legendary dynasty is jumping in. Dunhill Ventures, the family office of the tobacco and luxury goods empire, and the Dunhill Financial subsidiary is investing $3 million into Mocha Ventures, a venture capital firm aiming to invest in crypto and decentralized finance.
Piers Dunhill, the great-great-grandson of tobacconist Sir Alfred Dunhill, said now is the time to make this contrarian bet. “I like to try and do the opposite of everyone else. The bear market sentiment right now is why I’m looking to invest,” he told CoinDesk.
Dunhill is leading the fundraising round and will hold a series of private family office events to close a $32 million fund, NFTgators reports.