Concentric Launches Bitcoin Focused VC Fund
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Concentric, a London, UK- and Copenhagen, Denmark primarily based pan-European enterprise capital agency, has launched Timechain, a fund devoted to fairness investments in early-stage firms constructing on bitcoin.
The fund is over 60% of the way in which to its $21m first shut goal.
Timechain will deal with pre-seed and seed investments of between $100k and $1m in firms constructing infrastructure options for bitcoin – the asset and the financial protocol – together with the lightning community, mining and vitality and decentralized finance on bitcoin.
The fund will likely be led by Alexander Mann, Accomplice at Concentric, who has a monitor file of investing in startups in Europe and past, together with BVNK and Superscript.
Timechain has already made six investments:
A stake of $750,000 in Unmapped Digital Mining, an 100% off grid, renewable bitcoin minerA $100,000 stake in Bolt.Observer, which is constructing important tooling for firms operating lightning community nodesFedi, a privateness and scaling resolution seeking to deliver billions of individuals within the international south onto the bitcoin standardGaloy, open-source bitcoin infrastructure for nation state and company adoption of the bitcoin standardNoah, a bitcoin first neo-bank centered on rising markets the place people are most at want of an unbiased, censorship resistant moneyA additional funding to be introduced
FinSMEs
31/10/2022
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