As per the two anonymous sources cited by Yahoo, a London based Blockchain.com is seeking to raise nearly $50 million in venture funds to invest in blockchain startups.
Blockchain.com to Raise Millions in Venture Funds
The company which is famously backed by Google and Sir Richard Branson appeared to expand its business wings. Accordingly, Blockchain.com is launching its new VC firm, dubbed as “Blockchain.com Ventures” and is currently in talks with investors to raise $50 million to further invest in Blockchain and Crypto startups.
It is one of the leading Blockchain data providers and wallet which reportedly makes “a six figures advertising revenue every month” from its Blockchain Explorer tool. Besides advertisement, blockchain data, and wallet service, it aims to diversify Blockchain.com as a venture capital firm, much similar to Google Ventures, Salesforce Ventures, and Microsoft’s venture fund.
However, the Linkedin profile of Blockchain.com’s managing partner, Sam Harisson unveils that the fund already exists, as his position identifies him as “Co-founder of Blockchain.com Ventures.” Furthermore, his profile bio reads that they have already invested in a couple of startups – Origin Protocol Coindirect, Silver.tv, Nodle & others. One of the descriptions of his experiences on LinkedIn reads:
Co-founded Blockchain.com Ventures – A Venture Capital Fund anchored by Blockchain.com, the world’s largest non-custodial wallet platform & Lightspeed Venture Partners.
Harrison, whose Linkedin bio claims that “he co-founded Blockchain.com Ventures” had earlier worked at Naspers Ventures for more than four years.
Moreover, Blockchain.com itself has updated the “ventures” page on its website which reads “Powering the next wave of blockchain innovation.” It claims the new venture as its subsidiary, stating;
We created Blockchain Ventures to support and invest in distributed ledger technology (DLT) projects that advance the industry and provide a positive societal impact.
Beside Samuel Harrison, the website mentioned Peter Smith and Macros Santori as its founding team for Blockchian.com Ventures.
With almost 41 million users across 140 countries, Blockchain.com itself managed to rais 70 million USD from an array of investors including Google Ventures, the Venture Capital Investment arm of Alphabet Inc., and Lightspeed Venture Partner which is an American Venture Capital Firm. While investing in Blockchain.com in 2017, Sir Branson said; the company is at the cutting edge of a growing industry.
It’s worth reminding that the Blockchain.com has recently launched its crypto exchange The PIT, claiming to be the “fastest” trading platform.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.
