Oh god, even VCs are on the blockchain now
0Oh god, even VCs are on the blockchain now.
The biggest tech buzzword of 2017 was undeniably “the blockchain,” with startups moving to distributed tamper-proof ledgers, even if they didn’t actually need to. Facebook for cats? Put it on the blockchain. The Uber of ICOs? Blockchainify it (it’s a word, trust me. Or, at least, it will be. Probably).
But it’s not all nonsense. TMT Investments, an AIM-listed venture capital firm with money parked in the likes of Taxify and BackBlaze, just launched the TMT Crypto Fund. This $60 million fund aims to tap the immense amount of wealth and interest in the crypto space, and apply it to rapidly growing blockchain-based startups.
TNW spoke to Igor Shofiot, co-founder of the TNT Crypto Fund. Here’s how he explained it.
“We are taking the traditional VC model and adding the ability for qualified investors (based on the laws of their country) to invest from all over the world, as well as established Limited Partners, in either fiat currency or cryptocurrency. In return they receive tokens both in the fund itself and the fund’s investments.”