Singapore-Based Venture Capital Firm To Open The $10 Million LuneX Crypto Fund

Singapore-Based Venture Capital Firm To Open The $10 Million LuneX Crypto Fund
ôîòî ïîêàçàíî ñ : ethereumworldnews.com

2018-8-11 03:05

While many seem to be slightly hesitant to invest solely into crypto assets, investors seem to be all over the idea of blockchain technology, especially venture capitalist firms, who see blockchain technology as one of the fastest growing spaces in a multi-trillion dollar market.

Reuters reports that Singapore-based Golden Gate Ventures will be launching a $10 million fund that will be focused on investing in the flowering blockchain industry. The prominent Asian venture capital firm noted that it plans to invest into promising cryptocurrency and blockchain startups, that utilize (or aim to utilize) DLT-based technologies in an innovative manner.

It was also noted that this new fund, dubbed LuneX Ventures, will allocate resources to early-stage companies, like cryptocurrency exchanges and cybersecurity providers. Those investing into this $10 million fund will include high-net-worth individuals and family offices.

With this move, Golden Gate is now the first traditional markets firm to head a crypto fund in Southeast Asia, so LuneX is an ambitious move, to say the least. This new fund will be run by Kenrick Drijkoningen, who was the head of growth at Golden Gate, in collaboration with Tushar Aggarwal, who hosts the Decrypt Asia podcast.

Speaking with TechCrunch, Drijkoningen noted that although the industry has seen a large sell-off, that doesn’t mean that the ecosystem cannot grow. He elaborated, stating:

“Despite the fact that public markets are down, the amount of talent that’s moving into this space is exciting. There are young entrepreneurs who are passionate about this space and want to build an ecosystem.”

The LuneX executive went on to highlight how he plans to run the fund, revealing that LuneX should be taking a longer-term approach, instead of short to mid-term flips for profits. The founding partner went on to add that the capital invested into the fund would be divvied equally between ICOs, previously-existing cryptos and equity-based investments into crypto and blockchain projects/products.

Speaking more on equity investments, Drijkoningen revealed that he will be focusing on infrastructure projects, like crypto custody, banking or exchanges.

Concluding his time speaking with TechCrunch journalists, Drijkoningen revealed that his co-workers and himself are currently looking into approximately half a dozen deals, which may be LuneX’s first real-world investments.

Crypto & Blockchain Investment Funds — A Growing Industry Theme? 

Blockchain investments funds have become a growing theme in this flowering industry, as wealthy individuals and financial giants seek to make an investment into the blockchain/crypto field through an alternative medium.

The news regarding LuneX comes just a few weeks after Ethereum World News reported that a large Chinese city had issued a blockchain-centric fund with 10 billion Chinese yuan ($1.48 billion) in funding. While the fund will likely not invest into cryptocurrencies directly, due to the Chinese government’s crypto ban, the Nanjing-based fund will be focused on promoting blockchain projects in the Chinese ecosystem.

The fund will be focused on promoting and funding the use of blockchain technologies in cross-border platforms, content distribution, healthcare, energy, the transfer and ownership of intellectual property, and environmental protection. Not only will this project provide capital and resources for funding recipients, but it will also aid blockchain companies to move their headquarters to Nanjing in a bid to help the blockchain space develop locally as well as abroad.

This fund is one of many others creating over the past months in an attempt to spark a “blockchain revolution” in one of the world’s largest economies. Make no mistake, while this new $10 million fund may not be as impressive as Nanjing’s venture, it will still be an essential part in ensuring that blockchain adoption reaches new heights.

Photo by Larry Teo on Unsplash

The post Singapore-Based Venture Capital Firm To Open The $10 Million LuneX Crypto Fund appeared first on Ethereum World News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

High Performance Blockchain (HPB) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $0.0064459
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 1.0039 (-100%)

crypto venture singapore-based technology blockchain seem lunex

crypto venture → Ðåçóëüòàòîâ: 116


Ôîòî:

Japan Labor Ministry Confused as Crypto Salaries Demand Increased

Japan’s Labor Ministry is not hiding its confusion as the Tokyo Metropolitan Government and venture companies requested a deregulation of the Labor Standard Act. Japan has respected the “salaries in cash” principle for 70 years under the Labor Standard Act, however with the proliferation of digital money and salaries paid in cryptocurrencies, withdrawing money from […] The post Japan Labor Ministry Confused as Crypto Salaries Demand Increased appeared first on Bitcoin News.

2018-8-4 21:55


Ôîòî:

Novogratz’s Crypto Bank will begin trading on Toronto Stock Exchange starting August 1

According to the latest report from Bloomberg, Mike Novogratz’s cryptocurrency merchant bank Galaxy Digital is all set to trade on the Toronto’s TSX Venture Exchange from the 1st of August, 2018. Earlier this year in February, CoinSpeaker reported that the Galaxy Digital merchant bank had raised $250 million. This was just the time then when

2018-7-31 10:21


Ôîòî:

This Expert Believes Bitcoin Will Reach $250,000 In Just Four Years Time

With the current momentum of Bitcoin clear, Bitcoin hitting $250,000. 00 by 2022 isn’t a totally unrealistic prospect. Although in order to reach this point, we do need to see some very significant gains and of course, Bitcoin needs to locate some stability at a number of other benchmarks too, considering that at the time of writing, Bitcoin is valued at just $8,262.

2018-7-26 15:30