Global Blockchain Ventures has launched a $100m venture focused on investing in blockchain technology.
The firm typically backs blockchain and synergistic tech platforms in the internet of things, MedTech, and artificial intelligence sectors. The firm is planned to support its portfolio with capital investments but also access to its network.
As a part of its strategy GBV will also use its strategic alliances such as its partnership with Blockchain Financial Group, a blockchain technology business which provides, ICO consulting, advisory and research, as well as investments.
Multi-strategy hedge fund Stonegate Digital Capital Group was the leading LP in the fund, committing a seven-figure investment.
GBV is led by chairman & general partner, Al Weiss, who was previously president of worldwide operations for Walt Disney Parks and Resorts.
The company is believed to building out its team of advisors and venture partners as well developing relationships with other venture funds.
Weiss, said, “This is a very exciting time in history and we are blessed to be at the forefront of a technology that possesses the potential, and is well on its way, to disrupt all industries.
“My partners and I truly believe and understand this technology and we are excited to fuel innovation in blockchain and distributed ledger technology. This technology has vast potential for beneficial and practical use cases for economic growth and positive social impact.”
2018 has been a particularly busy year for private equity-backed blockchain investment.
Earlier this year, Pantera Capital pulled in $71m for its $100m-targeting Blockchain and crypto technology fund. That same month Singapore-based Golden Gate Ventures also launched a cryptocurrency and blockchain-focused investment vehicle.
In April, Andra Capital raised $500m towards its $1bn goal for its blockchain-centric growth fund.
This week Blockchain invoice startup INVIOU pulled in the first capital towards its $2m fundraising target.
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