Stronger Together: 3 DVN funds join forces to secure the blockchain with Ledger

“[Today] we are reaching a significant milestone in our path to build a technological giant in the promising space of cryptocurrencies…I am delighted to bring on board Draper Esprit and a truly global group of investors who will support the company as it grows rapidly” said Eric Larchevêque, CEO at Ledger, who announced a massive $75 Million Series B fundraise for the blockchain security company.

The company is not only growing rapidly, but globally. Ledger has sold over one million of its cryptocurrency hardware wallets across 165 countries, hence the “global group of investors” cited by Eric, which in addition to Draper Esprit (W. Europe), includes fellow Draper Venture Network member funds Draper Associates (Silicon Valley) and Draper Dragon (China/US) along with several other VC firms.

As the cryptocurrency boom spreads to every corner of the connected globe, so does the need for more sophisticated security. Tim Draper, who is no stranger to crytocurrency investing, said the following in his recorded message (above): “..it’s a solid, wonderful way to store your crypto assets. I use Ledger myself…and I’m thrilled to be a part of [funding] Ledger.”

Ledger’s products are underpinned by an operating system specifically designed to run on any secure hardware and to support any cryptocurrency. Yet this technology secures more than just the latest ICO’d token. It will eventually accelerate advancement in a wide variety of industries, from the internet of things to driverless cars. But for the time being, cryptocurrency has kept them plenty busy. They are soon launching a new solution for financial institutions, the Ledger Vault, which enables banks, hedge funds and family offices to manage their crypto assets.

As a global VC alliance, the Draper Venture Network is uniquely positioned to help Ledger expand in its target markets. We are eager to bring them aboard our Portfolio — as Tim says, “Go get ’em!”

[To find out more about the deal, read Draper Esprit’s blog post on Ledger]