Dubbed ‘Banking on Blockchain Fund,’ or ‘BB Fund,’ the new fund will provide start-up capital for early stage blockchain companies that have use cases relevant to banks.
To operate the new fund, Life.Sreda has attracted such blockchain and fintech experts as Chris Skinner, David Brear and Thomas Labenbacher. Skinner said that the banks backing the fund will be provided with research outputs and knowledge from the portfolio companies, in addition to investment analytics and returns.
The new fund will be headquartered in London and target mainly European and Asian companies.Among the issues tackled by blockchain start-ups are shared ledgers for digital identities, asset tracking, smart contracts, clearing and settlement and payments.
Launched in 2012 as the venture arm of Russian financial group Life, Life.Sreda closed a first fund in late 2014, then launched a second fund targeting exclusively foreign startups.
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