The Dynamic Duo: Venrock and Coinfund Join Forces
In a bold step towards the future of finance, the Rockefeller family’s venture capital branch, Venrock, is teaming up with the crypto-savvy crew over at Coinfund. Oh, the irony—who would have thought that the illustrious Rockefellers would delve into the world of cryptocurrency, right? This partnership aims to support groundbreaking innovations in the blockchain realm, as reported by Fortune on April 6.
Coinfund’s Impressive Portfolio Just Got Better
Recently adding token-based financial services platform Coinlist (think of a blockchain version of AngelList), Coinfund continues to expand its portfolio of forward-thinking investments. Remember Kik? The chat messenger that raised nearly $100 million through their ICO? That’s also a Coinfund success story. It seems like these guys are swimming with the sharks of the crypto world and doing just fine!
Long-Term Vision: Finding the Gold in the Crypto Chaos
When asked about Bitcoin’s struggles to stay above $7,000, Venrock’s partner, David Pakman, was all about keeping it cool. He shared that their focus isn’t on short-term price fluctuations. Instead, they’re eyeing the broader picture: “We’re really patient long-term investors.” And let’s face it, who wouldn’t want to play the long game with a game-changing technology like blockchain?
The Mission Behind Crypto: Decentralized Services for All
In Pakman’s April 6 blog post, he highlighted the real magic lies in creating sustainable decentralized computing platforms. Imagine a world where social media, storage, and messaging are all managed by its users rather than a faceless corporation. Sounds like a utopian dream, right? Well, Pakman sees it as a real possibility that could transform how we interact with technology.
Regulations, Risks, and the Future of Fundraising
Let’s not gloss over the dark side of this burgeoning industry. Pakman acknowledged the potential for scams in this “wild space,” particularly when it comes to ICOs. He believes in a regulated approach to sift out the bad actors while being cautious not to “throw the baby out with the bathwater.” Wise advice for any budding investor navigating these choppy waters.
A New Era for Traditional Financing?
Finally, both Pakman and Coinfund co-founder Jake Brukhman are optimistic about the future of decentralized systems potentially competing with traditional venture capital models. In Pakman’s words, “I don’t believe that a small group of people should make the decisions about which projects can raise some money.” Empowering the masses? Count us in!
