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$1.5 Billion Hedge Fund Ulysses Capital Invests in NULS (Again)

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NULS, a blockchain designed to enable customizable modules and cross-chain operability, has secured investment from Ulysses Capital, a Los Angeles-based family office managing roughly $1.5 billion worth of assets.

Commenting on his fund’s investment in a blog post published by NULS was Joon Lee (Fund Manager, Ulysses Capital), who praised NULS’ “strong technical team” for sticking to their roadmap; something “we don’t often see” occur in the crypto space, he added.

If anyone was to know how diligently NULS abides by their roadmap, it would be Ulysses Capital. Indeed, the investment into the enterprise- and developer-focussed blockchain project was not the first for the long/short hedge fund.

It was only last October when Ulysses Capital – who at the time had “recently established a crypto fund to invest in cryptos and blockchain companies” – invested directly into NULS’ same-named cryptocurrency.

For Ulysses Capital, the initial investment into NULS doubled as a strategic partnership. According the October announcement, Lee shared his fund’s intention was to “build a win-win relationship with [NULS] by creating more opportunities for NULS in the future.”

NULS Seeing A Lot of Investment

Notably, Ulysses Capital is not the only crypto-specific fund in recent times to have seen potential value in NULS. Late last month, BlockGroup, the parent company of the BlockVC, announced their investment in NULS through its newly established $200 million crypto fund. As was the case with Ulysses Capital and their crypto-specific fund, NULS represented the first investment by BlockGroup’s.

As for how NULS is tracking as a project, the team is currently testing their recently released alpha version of NULS 2.0. Promisingly for investors such as Ulysses Capital and BlockGroup, NULS revealed in today’s investment announcement it “has multiple enterprises and individuals participating in the 2.0 alpha test and is currently considering additional participants to join the environment.”

Announced last November , NULS 2.0 represents a “new modular architecture enhanced with microservice suites, that have no programming language limitations.” Prompting the design overhaul was the core team’s realization that, whilst NULS 1.0 achieved “the modular effect at the coding paradigm level,” it was far too constraining for developers. For CryptoGlobe readers wanting to learn more about the benefits of NULS 2.0 – especially as it relates to NULS 1.0 – we recommend reading this detailed blog post .

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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