Former ING Crypto Lead To Helm Investcorp’s First Blockchain Fund

Hervé François to work on $42B alternative investments firm’s fund focused on NFTs, DeFi and more

article-image

Source: Shutterstock

share

key takeaways

  • François left his role as ING’s blockchain and digital assets lead last month after serving in the post for nearly eight years
  • The executive will work with early-stage startups involved in segments such as DeFi, NFTs and blockchain infrastructure

Digital bank ING’s former head of digital assets has joined Investcorp to build out the alternative investment giant’s inaugural blockchain-focused fund. 

“I am really looking forward to this new challenge, which is another opportunity to contribute to the digital assets ecosystem and to support a blockchain-enabled world,” Hervé François wrote on LinkedIn Tuesday. 

Based in Abu Dhabi, François is tasked with working with early-stage startups involved in segments such as decentralized finance (DeFi), non-fungible tokens (NFTs), play-to-earn, the metaverse, blockchain infrastructure, interoperability, scaling solutions and the transition to Web3.

An Investcorp spokesperson did not immediately return a request for comment.

Founded in 1982, Investcorp had $42.7 billion in assets under management as of June 30, the most recent data available. The company revealed the launch of eLydian Lion — the first dedicated institutional blockchain fund based within the Gulf Cooperation Council (GCC) countries — in April.

Led from Investcorp’s Abu Dhabi office, the fund is independent of and complementary to Investcorp Technology Partners, the firm’s investment strategy focused on lower mid-market technology opportunities, the company said at the time. 

Gilbert Kamieniecky, head of Investcorp’s technology private equity business, added in an April statement that the firm believes blockchain technology “will transform every facet of our economy much like the internet did in the 2000s.”

François told CoinDesk he was leaving ING in July, but it was unknown where he was headed. The news came after ING moved to spin out its Pyctor digital assets technology to GMEX Group.

The executive joined ING in 2011 as a senior foreign exchange swap trader, before becoming its blockchain and digital assets lead in 2014 — a role he left last month.

Before ING, François worked for about seven years in several roles at Natixis Corporate & Investment Banking, including as a foreign exchange swap trader.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Nick Compute (1).png

Research

2025 has facilitated unprecedented growth in generative AI adoption. By late 2024, over 71% of companies were using generative AI in some form, a massive jump from 33% the year prior. Tools like ChatGPT, Perplexity, and open-source models have proliferated, with potentially billions now leveraging AI chat bots. In Q1 2025, OpenAI’s release of the o3 & o4 models marked another leap, touted as a multimodal “reasoning” model capable of breaking responses into smaller components, testing different approaches, and validating solutions until reaching a final output.

article-image

The President’s son reportedly said his family may pursue legal action

article-image

One lets everyone see your trades. The other hides everything. Which design wins in crypto’s next perps arena?

article-image

Celebrating Bitcoin’s “zero to 1,000%” moment

article-image

K33 analyst Vetle Lunde warned of potential volatility ahead

article-image

The president wants Senators to hurry up and pass his sweeping tax and budget bill, as well as pro-crypto legislation

article-image

Pump.fun’s own token is coming soon, sources tell Blockworks