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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.

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