Start-ups with designs on making it big in the fast-growing world of blockchain and cryptocurrencies will be targeted by two new funds focusing on the Australian market, with almost $44 million to spend.
Apollo Capital, founded by venture capital fund Dominent Venture Partners' Domenic Carosa and Holger Arians and Wall Street veteran Henrik Andersson, is attempting to raise a minimum of $30 million and will specialise in crypto asset investments, which it defines as digital currencies, blockchain-based assets and initial coin offerings.
At the same time an $80 million global blockchain development fund, NEM.io Foundation, is expanding to Australia, with its global director of partnerships and strategic alliances, Jason Lee, planning to deploy around $14 million locally.
Mr Carosa said as the market continued to mature, he expected to see more funds targeting cryptocurrency and blockchain investments.
Full story: http://www.afr.com/technology/vcs-target-australian-blockchain-and-cryptocurrency-firms-with-44m-in-funds-20171120-gzpg9f?btis
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Topic: NEM (XEM) - VCs target Australian blockchain firms with $44m in funds (Read 52 times)
November 28, 2017, 02:53:15 AM
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