RATE Group | Singapore VC Firm Launches Dedicated $10 Million Cryptocurrency Fund
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Singapore VC Firm Launches Dedicated $10 Million Cryptocurrency Fund

10 Aug Singapore VC Firm Launches Dedicated $10 Million Cryptocurrency Fund

Posted at 11:06h in Cryptocurrency News by

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Singaporean venture capital firm Golden Gate Ventures is launching what it bills as Southeast Asia’s ‘first dedicated VC cryptocurrency fund’ with $10 million in investment capital.

Dubbed LuneX Ventures, the fund will see a ‘laser-like focus’ on the cryptocurrency and blockchain space by investing in early-stage startups including cryptocurrency exchanges, the VC firm said on Friday. The fund will be led by Golden Gate’s former head of growth Kenrick Drijoningen, who will assume the role of its founding partner.

The launch of the fund is also timed for the current climate in the crypto sector where cryptocurrencies are steadily going mainstream in spite of the ongoing bear market in 2018, according to Drijkoningen.

He stated:

“We view blockchain as a foundational technology, on a par with or possibly exceeding the Internet in disruptive potential. Right now valuations have come down to more reasonable levels and the industry is moving from pioneers to early…

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