A novel investment fund is seeking to heighten equally much equally $100m over the adjacent 2 years to fuel investments inwards the blockchain space.
Founded past times fiscal technology scientific discipline consultant Chris Skinner in addition to Singapore-based venture working capital missive of the alphabet firmLife.Sreda, the Banking on Blockchain Fund is hoping to heighten $50m past times year's end, amongst an additional $50m to live on raised past times the goal of 2017.
Life.Sreda, whose portfolio focuses primarily on FinTech and payments, has committed $5m hence far, according to a study by Financial News. Those involved amongst the novel inaugural include Thomas Labenbacher, who volition serve equally managing manager of the fund. Labenbacher has previously worked for Fidor Bank in addition to Western Union. David Brear, a onetime manager for consultancy Gartner, volition serve equally a atomic number 82 partner for the fund.
The fund is aiming to heighten working capital missive of the alphabet from mid-size banks, a procedure for which Skinner told Financial News would include providing consulting services in addition to query assist to participating banks. "We volition too render the banks amongst query outputs in addition to consulting based on the cognition gathered from the firms nosotros invest in," he said.
