Altcoin News: Wallet Giant “Blockchain” Is Raising $50 Million
Crypto Wallet and Data Provider “Blockchain” is raising $50 million in venture funds to invest in cryptocurrencies and startups.
According to Yahoo Finance London-based crypto-company Blockchain Ventures is currently talking to investors about taking out a venture capital fund. The company wants to invest the money in both equity and cryptocurrencies.
The LinkedIn profile of Sam Harrison, a Blockchain Managing Partner, indicates that the fund already exists and has invested in crypto startups such as Origin Protocol, Coindirect, Sliver.tv, and Nodle.
Blockchain, founded in 2011, is home to over 40 million users, one of the largest crypto wallet provider in the world which also provides data on crypto markets. The company is headquartered in Luxembourg but has offices in London, New York and Vilnius.
In addition, the crypto company raised more than $70 million from lenders such as Google Ventures, Sir Richard Branson’s Virgin and leading European venture capital fund Lakestar. Sir Richard Branson said the company was “at the cutting edge of a growing industry” when it invested in 2017.
The launch of an independent venture capital fund is increasingly becoming the norm for technology companies. Notable similar funds include Google Ventures, Salesforce Ventures, and M12, the Microsoft Venture Fund.
However, Blockchain Ventures’ decision to set up its own venture capital fund came as a surprise to many as it is still at an early stage.
Author: Marko Vidrih