The Crypto Currency Partners, a bitcoin venture investment company and led by Bitcoin Foundation board chairman Brock Pierce, has been rebranded as Blockchain Capital and added $7 million for additional investment acitivities into bitcoing or blockchain technology related companies.
As cryptocurrency news provider Coindesk informed, the company has already provided capital of $1.2 million into 29 cryptocurrency startups, mostly technological like Coinbase, Ripple Labs, Xapo, or Blockstream.
Moreover, Blockchain Capital is expected to broaden its cryptocurrency investment activity to a sister syndicate on AngelList platform, a place putting together angel investors, startups, jobseekers, this diversifying its portfolio of activities to startup investments as well. As its Managing Partner Brad Stephens added: “Our mission is to support entrepreneurs who are disrupting legacy industries and creating new markets via blockchain technology.”
Blockchain Capital stated that it intends to raise further $3 million, looking for advancing toward a second closing of the fund.
Stephens also added that besides some other startups activites on other cryptocurrency field, working on alternative blockchains, his company will still be focusing on bitcoin and its blockchain. “We get a lot of questions on other blockchains and altcoins in particular. With the exception of Ripple, we haven’t seen a lot of competitive blockchains,” Stephens added to the issue, highlighting bitcoin’s blockchain as the largest cryptocurrency blockchain. “We see the bitcoin blockchain being the winner.”
Stephens see next two to five years as an era of cryptocurrency startups from the industry focused on the blockchain’s use beyond financial services. “More than $700m has been invested in the blockchain and bitcoin ecosystem, almost all of those companies have been bitcoin related,” he continued.
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