According to a report by Yahoo Finance, Blockchain (not to be confused with the name for the technology), is raising a VC fund to invest in both equity and crypto.
A reporton Wednesday mentioned two sources had confirmed that Blockchain is in discussions with investors to raise a total of $50 million USD as the target for the fund.
Blockchain managing partner, Sam Harrison who was previously a principal at investment firm Naspers Ventures had suggested further that the fund is already in existence and is also backed by Lightspeed Venture Partners, a Blockchain investor.
According to Harrison’s LinkedIn profile it states:
“Co-founded Blockchain.com Ventures – A Venture Capital Fund anchored by Blockchain.com, the world’s largest non-custodial wallet platform & Lightspeed Venture Partners.”
Crunchbase reported that Blockchain has successfully raised $70 million over four rounds, this is including a $40 million Series B that saw the support of Richard Branson and Lightspeed Venture Partners.
The company had also launched a platform for exchange which is called The PIT recently, and last year it was said to have released its first-ever hardware crypto wallet. According to the firm’s website says its wallet app has been downloaded over 41 million times and is being used worldwide.
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