Life.Sreda’s Banking on Blockchain Fund Seeks $50 Million by Q4 2016

124

Share with:


According to a report by Financial News, Singapore-based venture capital firm Life.Sreda has joined forces with fintech expert Chris Skinner to launch a venture fund that will invest in Blockchain startups.

The new venture fund called Banking on Blockchain Fund, has launched with an initial capital infusion of $5 million from Life.SREDA, but the near-term goal of the venture is to expand its capital base to $50 million by the end of 2016.

Skinner, who has advised large financial institutions like Lloyds on emerging technologies, clarified that the Banking on Blockchain Fund will ease investor fears by doing thorough due diligence on all fintech firms the fund invests in:

“We will also provide the banks with research outputs and consulting based on the knowledge gathered from the firms we invest in.” he said.

Thomas Labenbacher, who previously held an executive position at Fidor Bank – which currently works with the San Francisco-based Kraken digital currency exchange – has been appointed Managing Director of the new blockchain-focused fund.

The Life.SREDA fund also has many investments in various payment networks such as social network payment platform Fastacash, and Ayannah, a payment service for the unbanked in emerging markets.

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

Visit Website
View All Articles
Buy Bitcoin at CEX.IO

Get Blockchain News Where You Are!

Join our Linked in GroupLike our Facebook Page
Linkedin Group BlockchainLinkedin Facebook Group