According to Bloomberg, Goldman Sachs Group Inc. and Miami-based Neoclassic are planning to bridge the gap between western crypto companies and markets in Asia. This comes in the wake of a regulatory crackdown on the digital-asset industry in the US over the past few years. The co-founders and managing partners of Neoclassic believe their multicultural backgrounds will be advantageous in this endeavor.
Lee, one of the co-founders, was born in South Korea and has spent over 20 years in South Korea, Japan, and Singapore. His partner, Bucella, hails from New York. They believe that their firm, Neoclassic, can help western companies tap into localized regions in Asia that are currently inaccessible to them. Bucella stated that the regulatory environment in the US is still unclear, which hinders the generation of large user bases.
Both Bucella and Lee have been praised for their ability to identify and capitalize on opportunities in Asia, particularly in Korea and Japan, as well as in the US crypto ecosystem. This was stated by Vinik in an email statement. Neoclassic has also received investments from global investors, who have commended the firm's deep market knowledge and extensive experience and network. Ray Hindi, CEO and CIO of L1 Digital AG, described Neoclassic as a powerhouse for identifying and investing in promising crypto founders.
In addition to venture funds, Neoclassic plans to launch hedge funds, growth equity, credit, and other financial products in the future, according to Bucella.