Harvard’s $37.1 billion endowment fund has reportedly invested $12.65 million in Blockstack.

The New York-based blockchain toolmaker lately applied with the Securities and Exchange Commission (SEC) to raise $50 million. The application submitted to the US securities regulator detailed the name of Blockstack’s advisory members. Among those names was Charlie Savaria, one of the recently appointed managing directors for the Harvard Management Company.

Mr. Savaria, according to the document, alongside other six advisory members purchased an aggregate of 95,833,333 BlockStack digitized equities, called Stack Tokens (STX). At the time of selling, the STX rate was $0.0132, meaning that Blockstack attracted as much as $12.65 million from its advisory board via the coin sale.