Venture Capital to Invest 200K Ether in US Startups
China is focusing on the crypto market and is investing lots of money for blockchain technology. One of a firm called Venture Capital is mainly focusing on the blockchain community as the blockchain industry is launching a U.S brand which is of worth 200,000 Ethereum and they are ready for investments in blockchain technology and startups. The total budget allocated is of worth $86 million as per the news.
This all news came out from a company Node Capital and We Chat had covered all the story which was published later. The announcement was made in an event on Wednesday, which took place at San Jose. The aim of the Venture Capital is that will be setting up an office which will follow a U.S. culture with a local team working for increasing the scope of the blockchain startups. The date of launch is still not out, and it will be declared in some time.
Du Jun, the founder of Node Capital in a press conference stated that one of a Beijing based company had bought around 160 crypto startups and China take the largest share of about 80%.
Hardware wallet maker ‘Coldlar’ and ‘Jinse Finance’ are in the list of a major startup on which the company has invested in. They are very big reputed companies in China who are having the largest crypto media outlets throughout China.
Node Capital has turned its back to 20 crypto exchanges that were going to happen. Few of them were FCoin which is a new launch that hits the headline so fast by showing its brilliant performance in the crypto market. It gave a free mining concept to the world which was very helpful. Du Jun have started it all.
In China, he was the first person who invested in the cryptocurrency and is expert in the blockchain community. He is also the co-founder of Huobi exchange which was formed in 2013 with Li Lin who is the CEO of Huobi Group.