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.
- New Zealand’s Cryptopia Exchange Packs It In – Announces Liquidation - May 15, 2019
- Canadian Blockchain Expert Alex Tapscott and NextBlock Global Limited to Pay $1M for Misleading Investors - May 15, 2019
- ObEN Launches AI Newscaster With 3D “Satoshi” Avatar to Deliver Content via PAI News App - May 14, 2019
- Leading Freelance Platform Moonlighting Announces First Blockchain Integration Partner – Teams with HireVibes For EOSIO Solution - May 14, 2019
- Polish-UK Blockchain Company Billon awarded €2 million euro from EU to build DLT Document System - May 14, 2019
- City of Belfast and Colu Team up to Create City Loyalty Token to Boost Local Economy and Environment - May 8, 2019
- Fidelity Investments – to Launch Cryptocurrency Trading Desk Soon – Recent Report Shows Clients Want To Trade Digital Assets - May 8, 2019
- Consensys Accelerates Blockchain Investment Portfolio, Consolidates Investment Arms - May 8, 2019
- IBM to Track Fresh Shrimp on the Blockchain - May 8, 2019
- Binance Cryptocurrency Exchange Hacked for 7000 BTC (USD $40 million) - May 8, 2019
- Gate.io Reports Success on First Three Successful IEO Projects - May 8, 2019
- Deloitte and RIDDLE&CODE expand partnership to enable the Token Economy - May 8, 2019
- Alprockz Partners with Fusion Foundation to Accelerate Swiss Franc-backed Stablecoin - May 6, 2019
- Major Canadian Banks Choose Blockchain Solution for Identity Verification - May 6, 2019
- Big Pharma Giant Pfizer and Others Join Life Sciences and Healthcare Blockchain Project MediLedger - May 6, 2019
- Craig Wright Pressured to Produce Evidence of Bitcoin and Blind Trust in the Dave Kleiman vs Craig Wright 1.1 Million BTC Court Case - May 6, 2019
- Facebook Kicks Off with their New Cryptocurrency Project Libra - May 6, 2019
- Vanbex Fights Back Against Asset Seizure in Civil Case by Suing Former Contractor for Libel - May 6, 2019
- Philippines’ CEZA Awards ADAX Rights to Open a Security Token Issuance platform and Security Trading Exchange - May 6, 2019
- Bitfinex $1 Billion IEO Details Leaked – Plans To Use Money To Cover Frozen Funds - May 6, 2019