2018-6-30 08:32 |
Union Square Ventures (USV), a private equity and venture capital firm, has plans to invest in blockchain and cryptocurrencies over the course of the next 10 years, CNBC reports June 29.
Speaking about initial coin offerings (ICOs), Wenger called them an “innovative new financing mechanism,” though he said they are not suitable for every blockchain project.
Wenger asserted that the amount investors have raised in an ICO is not necessarily an accurate indicator of success.
USV’s portfolio exceeds 100 companies, containing a number of crypto investments, which include digital currency exchange Coinbase and Ethereum-based virtual collective game CryptoKitties.
It would reportedly allow startups to carry out token sales without observing formalities such as business reviews and financial reports.
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