Leading Blockchain Wallet Provider Secures Another $50 Million To Invest In Crypto Startups
The crypto wallet giant Blockchain is currently trying to raise venture capital funds, according to reports from Yahoo Finance. According to inside sources cited by the media outlet, the company is currently looking to raise as much as $50 million USD.
There are also indications that this money will not be necessarily used for the development of technology, but for the creation of a crypto fund. Yahoo checked out Sam Harrison’s profile on LinkedIn and affirmed that not only he’s listed at Blockchain, but also that he is involved in Blockchain.com Ventures, a new venture capital segment of the firm.
In this new fund, Blockchain would look for partners that interested it and invested in them. According to the reports, some companies may have already received some money from the company, such as Nodle, Origin Protocol, Silver.tv and Coindirect.]
It will probably not be too hard to raise the funds. In over four years, Blockchain has managed to raise over $70 million and become a pretty profitable company. The company’s Series B investment round alone was able to raise $40 million. To go from that to $50 million is just a natural evolution.
Blockchain is not only investing in the fund, though. The company has continued all of its normal services with the wallet, which has been downloaded over 41 million times so far. Recently, Blockchain has also created a new exchange, which was called The PIT. Another development was that Blockchain created its first hardware wallet last year.