Open Demo Account
Home / Market Update / Cryptocurrency / Venture Fund to Invest $110 M in Cryptocurrencies

Venture Fund to Invest $110 M in Cryptocurrencies

M. Ali 4 August, 2020 7:19 pm Cryptocurrency, Market Update

Electric Capital venture fund raised $110 million from university endowments and other nonprofits to invest in cryptocurrencies, Bloomberg reported.

The company has started with investing $35 million in cryptocurrencies like Bitcoin and Ethereum and blockchain projects.

However, it seems the focus this time will be directed towards other crypto assets.

“Bitcoin and Ethereum are a minority of the fund. Our thoughts are more toward Defi protocols, apps built on top of this stuff,” said the  co-founder of Electric Capital, Avichal Garg.

Tags

Check Also

As Inflation Cools, US Stocks Surge

The US stock market experienced a significant rally on Friday, fueled by a cooler-than-expected inflation …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends