Topic: [2017-09-06] Russia’s Blockchain Venture Fund Wants to Invest $1bln in ICO Proje (Read 3769 times)

One of the many trends I am seeing right now is the fact that more and more Russians are getting involved with cryptocurrency by introducing their own versions of it, starting a venture fund (just like this Finshi Capital) and investing into existing and already working ones in the cryptocurrency market. I would not be wondering if soon it would be the government of Russia which will really push their entrepreneurial citizens to be dominating the cryptocurrency market and the use of the blockchain technology.

On the surface, Russia seems to be reluctant to embrace cryptocurrency but there is already a great movement it could not ignore and it would look closely the government would realize that cryptocurrency can be a big advantageous to the country and its citizens as Russia can soon be an exciting hub for cryptocurrency in that side of the world.

Finshi Capital is a great example of how good are the Russians when they focused on cryptocurrency. Will Russians be better than the Chinese? I would say a big YES!

A Russian Blockchain venture fund known as FinShi Capital has announced it will invest in ICO-related projects “worth up to $1 bln.”

In a press release issued today, the “syndicate of venture funds” announced it had raised $1.3 mln during its pre-ICO campaign, and aims to generate another $50 mln in its ICO proper in October.

Targeted investors are members of Russia’s ‘Silicon Valley’ Skolkovo, and the project already has the blessing of the newly-created Russian Blockchain and Cryptocurrency Association (RABIK), co-founded by Putin advisor Herman Klimenko.

“The fund will come up with ICO (sic) for both its own business ventures as well as encourage Skolkovo residents to organize ICO (sic),” the release states.

    “[...] The fund is backed by ‘miners’ and crypto asset owners of the Russian Association of crypto assets and Blockchain, Created with the intention of supporting the potential ICO investors.”

The fund is optimistic about its prospects, alleging profitability should run to “520 percent” based on “preliminary estimates.”

RABIK meanwhile clarified its stance on cryptocurrency, following Russia’s deputy finance minister Alexey Moiseev calling for a ban to everyone but “qualified investors.”

“[The] newly born Association doesn't hold the same stance and is convinced this topic should be one on the agenda at the dialogue with the regulators,” it said in emailed comments.

    “For example, any owner of [...] crypto assets who is not an investor can enter the new association.”



https://cointelegraph.com/news/russias-blockchain-venture-fund-wants-to-invest-1bln-in-ico-projects