Jumping into the Deep End of Blockchain
Joseph Lubin’s Ethereum design studio, ConsenSys, is making waves by plunging headfirst into the world of Blockchain venture capital. With the launch of ConsenSys Ventures, they’re ready to shake things up, ready to invest in both the equity of Blockchain startups and the latest cryptocurrencies.
Meet the Captain: Kavita Gupta
At the helm of this venture? Kavita Gupta, named Founding Managing Partner. If her resume were a movie, it would be a blockbuster! With a pedigree that includes work with the likes of Eric Schmidt of Alphabet, the International Finance Corporation, and the World Bank, she’s pretty much got the Midas touch when it comes to impactful investing. Talk about being in good hands!
Initial Investment Strategy
ConsenSys Ventures has decided to crank things up with an initial corpus of $50 million. They aim to invest primarily in Ethereum startups, particularly in the seed stage. Expect investments ranging from $250,000 to $1 million. But wait, there’s more! They plan to raise additional funds from outside investors as they build momentum. Who wouldn’t want in on this action?
The Vision: More Than Just Returns
Gupta’s vision for Blockchain technology is refreshingly impactful. “Blockchain technologies have lowered the cost of monetary transactions in the developing world, and could be used by refugees to store credible identity records,” she highlighted. It’s not just about returns; it’s about revolutionizing lives!
Investment Frenzy: The New Gold Rush
The investment landscape for Blockchain startups is sizzling, spurred on by Initial Coin Offerings (ICOs). These token sales have blown traditional VC investments out of the water in 2017, creating a mad scramble in the venture capital space. Dedicated Blockchain investment vehicles have popped up like daisies on a sunny day, each vying for a slice of the profitable pie!
Facing the Giants
But let’s not kid ourselves. ConsenSys Ventures is stepping into a ring with some heavyweight contenders. Established players like Pantera Capital and Barry Silbert’s Digital Currency Group are not to be underestimated. Adam Draper’s Boost VC, Blockchain Capital, and Fred Wilson’s Union Square Ventures are fierce competitors, and they all have one thing in common: a relentless quest for high returns.
Conclusion: The Future is Bright
Get your popcorn ready, folks! The Blockchain investment scene is heating up, and with ConsenSys Ventures throwing their hat in the ring, we can expect even more excitement in the coming years. As they gear up for massive investments, one thing is certain: this is just the beginning!
