ConsenSys CSO Seeks to Raise $50M for New Blockchain Investment Fund

Must Read

Can XRP defend its price?

Could XRP defend its price action, and rise back to $0.30? Here is my view on how...

With a 110% increase in crypto wallet adoption rates in 2020 are we set for another Bitcoin boom?

2020 has been a massive year for crypto adoption. In July alone, over 3.5 million crypto wallet app downloads...

DeepTradeBot: The innovation of large companies at your service

DeepTradeBot is a collection of automated trading tools developed by Deep Neuro Networks LTD, a London, England-based company...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

An executive at the Ethereum blockchain firm ConsenSys is launching a new blockchain-oriented investment firm, Aligned Capital. Sam Cassatt, the chief strategy officer (CSO) at ConsenSys, announced that the firm will be seeking to raise $50 million for its first fund in an announcement on Nov. 15.

Cassatt, who has been at the firm for five years, will continue to serve as an advisor to ConsenSys while working full-time as a founding managing partner at Aligned Capital.

Apart from blockchain, Aligned Capital will invest in safe AI and innovative healthcare

According to the announcement, Aligned Capital will be investing in three major areas including blockchain and crypto, safe artificial intelligence and innovative healthcare. Cassatt says that he is planning to use ConsenSys software and collaborate with the startup incubator.

Aligned Capital’s initial backers include some high-profile figures in the crypto industry such as ConsenSys founder and Ethereum co-founder Joseph Lubin, who will also serve as an advisor to the firm. Andrew Keys, an early ConsenSys exec and managing partner at DARMA Capital, is also on the list of the backers.

Meanwhile, other advisors include Stanford lecturer and Transformative Tech Lab co-founder Nichol Bradford and Long Now Foundation director of development Nicholas Paul Brysiewicz. Seth Goldstein, serial entrepreneur and angel investor, will join as a venture partner.

Investment in blockchain technology sees stable growth

Sam Cassatt’s new blockchain-focused fund is further proof of the overall steady growth of investment in blockchain technology. According to a study by identity management firm Okta, as much as 61% of high-profile digital companies worldwide are investing in blockchain. 

In June 2019, billionaire investor Henry Kravis reportedly made his first crypto investment in blockchain-focused investment firm ParaFi Capital.

According to research data platform Research and Markets, blockchain spending in the United States will increase from $3.12 billion to $41 billion by 2025.

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

Flyp.me Instant Crypto Exchange Now Supports REN Token Trading

Decentralized finance is leading the way of the cryptocurrency industry, with the REN Protocol at the front. REN Protocol is...

BLOCKCHAIN OVERCOMES POSSIBILITY OF FRAUD, LACK OF TRANSPARENCY AND TRUST IN THE GAMBLING INDUSTRY

DATE: 07/08/2020 In a recent study carried out by the UK Gambling Commission reveals that the gambling industry has...

The Kuailian Ecosystem, Bringing Blockchain Technology To The World

10 years have passed since the birth of Bitcoin and the first use of Blockchain, a technology that has not stopped evolving,...

Its’ Finally Here A 100% Local Non-Custodial P2P Cryptocurrency Marketplace.

Finfreeotc is soon launching a one of a kind peer to peer cryptocurrency market place. Their marketplace is 100% non-custodial,...