Wallet gaint blockchain raises $50 million crypto fund.

 

According to Yahoo Finance, Crypto wallet and data provider Blockchain is raising a VC fund to invest in industry startups and cryptocurrencies.

Two sources on a Wenesday reported that Blockchain is in discussions with investors to raise $50 million for the fund.

The LinkedIn profile for Sam Harrison reports further that suggests on the fund is already in existence and is also backed by Lightspeed Venture Partners.

A Blockchain managing partner who was also previously a principal at investment firm Naspers Ventures, a Blockchain investor.
Istates that:

“Some firms had already being invested with funds such as Origin Protocol, Coindirect, Sliver.tv and Nodle.
$70 million over four rounds has been raised by Nlockchain, including a $40 million Series B which saw Richard Branson and Lightspeed Venture Partners participate.”

Co-founded Blockchain.com Ventures – A Venture Capital Fund anchored by Blockchain.com, the world’s largest non-custodial wallet platform & Lightspeed Venture Partners.

The firm’s website says its wallet app has been downloaded over 41 million times as a fact. The company recently launched an exchange platform known as the PIT, and last year rolled out with its first ever hardware crypto wallet.

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Credits: Daniel Palmer

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