DCG's Barry Silbert: 'We're excited by blockchain – but just as excited about Bitcoin'
http://www.ibtimes.co.uk/dcgs-barry-silbert-were-excited-by-blockchain-just-excited-about-bitcoin-1540873
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Barry Silbert has spent a lot of time and care shaping his technology investment company, Digital Currency Group. Its mission: to accelerate development of a better financial system.
DCG is set up as company, as opposed to a fund, because it provides the flexibility to invest in companies, incubate companies, buy companies and hold permanent capital "so the money that we raise stays within the company; instead of having a fund where you have to return capital to your limited partners, we get to redeploy capital within our company," said Silbert.
He said the other benefit of being set up as a company is that you can take a company public. "We do view that as a path we are likely to go down." Silbert name-checks companies he admires such as Softbank, IAC, Naspers and Liberty Media – an emphasis on media is not surprising since the latest company DCG bought is industry leading media and events group, Coindesk.
The other two companies are Greyscale Investments, manager of the publicly traded Bitcoin Investment Trust, and the fully regulated digital currency trading operation Genesis Global Trading. In addition to the wholly owned subsidiaries, DCG has investments of between 2% and 5% in some 63 companies spread across 20 countries.
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DCG is set up as company, as opposed to a fund, because it provides the flexibility to invest in companies, incubate companies, buy companies and hold permanent capital "so the money that we raise stays within the company; instead of having a fund where you have to return capital to your limited partners, we get to redeploy capital within our company," said Silbert.
He said the other benefit of being set up as a company is that you can take a company public. "We do view that as a path we are likely to go down." Silbert name-checks companies he admires such as Softbank, IAC, Naspers and Liberty Media – an emphasis on media is not surprising since the latest company DCG bought is industry leading media and events group, Coindesk.
The other two companies are Greyscale Investments, manager of the publicly traded Bitcoin Investment Trust, and the fully regulated digital currency trading operation Genesis Global Trading. In addition to the wholly owned subsidiaries, DCG has investments of between 2% and 5% in some 63 companies spread across 20 countries.
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