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

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

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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.

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

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ citiies. He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe.  In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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

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

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