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Singapore VC Firm to Launch $10 Million Crypto Fund, Follows Blockchain Investment Trend

Published 1 year ago by Harold Vandelay

Singapore VC Firm to Launch $10 Million Crypto Fund, Follows Blockchain Investment Trend

BitcoinNews via bitcoinnews.com

Singapore-based Venture Capital firm Golden Gate Ventures is to launch a $10 million fund targetting crypto and blockchain start-ups that use innovative DLT, in what appears to be a growing investment trend. Golden Gate Ventures will call the fund LuneX Ventures and will be funded primarily by high net worth individuals. The LuneX fund becomes the first such fund, set up by a traditional markets company in the region.

Head of Growth at Golden Gate, Kenrick Drijkoningen, who is heading the project sees the recent downturn in the cryptocurrency markets as no hurdle to success. Drijkoningen himself points out that the project is planned for the long-term and that the invested capital would be spread through a range of areas including ICO’s and previously-existing cryptos, along with investments into other crypto and blockchain products. The talk of a blockchain revolution, a term cited frequently over the past months, would certainly include such projects as these involve crypto custody and banking.

Such blockchain investment funds are growing in popularity as traditional investors seek to make inroads into blockchain and crypto by another route to get ahead of the rush if it happens. The recent Chinese venture in Nanjing sparked the new term “blockchain revolution” as the country appears to have ramped up its support for blockchain technologies with a CNY 10 billion (USD 1.48 billion) investment fund, focusing primarily on the public blockchain projects. The new fund was announced and reported to be formed by the district government of Jiangbei — new area in Nanjing city and the Beijing-based Zhongguancun Blockchain Industry Alliance, a cooperative alliance between blockchain companies and government research institutes. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

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