Venrock Venture Capital Set To Invest In Cryptocurrency
Recently, blockchain technology and especially cryptocurrencies have gained massive traction in the corporate world. The latest institution to embrace this amazing discovery is Venrock, a venture capital firm associated to the popular J.D. Rockefeller family. Venrock is set to invest in digital currencies and projects.
Venrock was established in 1969 by Rockefeller’s grandchildren. Back then, the company had a market capitalization of $1 million. Nonetheless, the enterprise has undergone massive improvement over the years, and is now worth a whopping $3 billion.
Rockefeller's Venture Capital Venrock Investment Strategy
The rapid growth of Venrock is primarily attributed to the company’s eye for promising startups. In the illustrious history, they invested in corporate giants such as Apple and Intel long before they became global forces. Of late, Venrock has worked with the Dollar Shave Club and Nest, startups which are now worth well over $1 billion.
The adoption of virtual currencies could not have come at a better time for Venrock. At the moment, the cryptocurrency is booming, and going by the trend, the best is yet to come. Moreover, given the proud history Venrock has in selecting investments, it is safe to say that the crypto space is significantly promising. As a result, many venture capital enterprises are expected to follow the precedent set by Venrock.
David Pakman, a Venrock partner, had an intriguing answer when asked about digital currencies. David stated that Venrock had no interest in the short-term returns that cryptocurrencies bear.
Instead, the company had long-term plans in sight before deciding to venture into this investments class. Fundamentally, Venrock envisages a future where virtual currencies will be a centerpiece in the economic aspect of human life. For this reason, the company is prepared to inject enormous amounts of money into this auspicious project.
Venrock Working With CoinFund
To make this project a success, Venrock will collaborate with the experienced CoinFund, a fund that concerns itself with cryptocurrencies. Essentially, CoinFund is a venture capital firm that invests in blockchain-driven startups. Similar to Venrock, CoinFund also boasts of a substantially prosperous client list. Kik, a popular instant messaging platform that recently launched its digital currency is perhaps the most notable client of CoinFund.