Dubai Royal Firm Seed Group Partners With Invao Crypto Fund From Liechtenstein
The Seed Group, a company based in Dubai which is led by a royal family member Sheikh Seed bin Ahmed Al Maktoum, has decided to invest in a cryptocurrency fund in Liechtenstein, Invao.
Invao uses the money to invest in crypto companies and startups in order to acquire profits by investing in companies when they need the capital. The company would help the fund to acquire more clients in the United Arab Emirates and would be able to explore more blockchain opportunities for investment using the fund.
According to Hisham Al Gurg, from the Seed Group, the decision to choose Invao as an international partner is because the company is very bullish on the blockchain technology and it is ready to improve the access of the local market to this kind of company.
The CEO of Invao, Frank Wagner, is also very keen on the partnership. According to him, this joint venture can be a major improvement for the company in its strategy to enter the United Arab Emirates market and to foment the blockchain industry in the country.
Basically, the two companies are focused on leading the creation of this market together and they are both excited to invest in the country and to work together. According to the official statements, Invao will open an office in the country to work closer to its clients and the other companies.
Not The Best Time To Invest In The Market
The main problem that Invao may face in the United Arab Emirates now is not something local, but the state of the crypto market itself. Undeniably, the market is facing a very bad time at the moment. For instance, the price of the cryptos have dropped more than 85% in 2018 and there is no prediction for another bull run so soon, which is a let down for investors.
However, the bad time of the market did not stop Invao and the company has invested over a million USD in blockchain startups recently, which actually led the fund to generate profits despite the downtrends. The CEO affirms that the company was able to get at least 8% of profit even in the last month.
This may be, partially, because cryptos had already lost a lot of their value when the company involved. The lowest point of the bear market is the best time to invest as you may be prepared for when the next bull run is just around the corner.
In fact, some Bitcoin bulls are seeing, in partnerships like this one, the hope for the industry. 2019 will be the year of the growth, as most of the value driven up by speculation is already lost at this moment.
The next few months will answer whether we will see Invao rise and become successful in a year that looks like it will be quieter than 2017 and 2018 or not.