Blockchain Capital Welcomes New Venture Partner With Strong Ties To BitGo And Facebook
BitGo And Facebook Executive Joins Blockchain Capital
Ben Davenport, known for his experience as the creator of BitGo and for his time on Facebook, has decided to join Blockchain Capital, according to CoinDesk. He will be joining as the new venture partner of the company.
The executive is known for working in crypto projects, such as founding BitGo and Beluga, a company which was acquired by Facebook later and eventually became the basis for Facebook Messenger. Beluga was started in the last decade while BitGo was created in 2014, meaning that he has plenty of years of experience.
According to his interview with Coindesk, he affirmed that he actually spent a lot more time investing in other businesses than in taking care of his startups. This, he believed, allowed him to get to know the industry as a whole and to understand its evolution and its business perspectives considerably better than he did before.
At the moment, the executive has stakes in over 15 different companies. They include Lightning Labs, LedgerX, the Electric Coin Company, Paxos and AngelList. Up until last year, he was still in BitGo, but he decided to part ways with the company he created.
In his new position as a venture partner of the new company, he will not be making any executive calls (such as a full partner would) but he will share deal flow and help the company to evaluate the best investment scenarios.
People such as P. Bart Stephens and Spencer Bogart were actually originally known to him as investors in BitGo, which is how he is already an acquaintance of them. According to him, the two are always true to their convictions when investing and are hard to be distracted by what is happening around them.
Stephens is one of the co-founders of Blockchain Capital. He told the media that Davenport could bring much technical knowledge to the venture investment company and that he was an experienced contributor since he founded an important company.
Blockchain Capital is currently one of the oldest venture companies that invest in the blockchain technology. The company has investments in most of the major firms of the market, such as Coinbase, Kraken, Ripple, Circle, and Block.one.