Blockchain Venture Capital Fund Planned By Waves Platform

Announcements, Blockchain | January 3, 2018 By:

Decentralized blockchain platform Waves has announced a new venture capital fund dedicated to investment in blockchain projects.

Waves is a decentralized blockchain platform focusing on custom blockchain tokens operations. The technology it offers allows clients to issue, store, manage, trade, and analyze digital assets with the Waves blockchain platform and decentralized exchange.

The new venture fund, called “Basics Fund,” will operate along the same lines as a venture capital fund, but blockchain technology will make the process much faster and cheaper than with traditional investment funds. The Basics Fund is seeking an initial $10 million in investment this month, with a total of $30 million by April.

“The Basics Fund is dedicated to investment in blockchain infrastructure and combines the best of venture funds and hedge funds — investing in a diversified portfolio of promising startup projects in the blockchain space,” the company said. “Assets and activity will include established crypto-assets and pre-sale initial coin offering (ICO) tokens, as well as arbitrage and event-oriented trading.”

Waves founder and CEO Alexander Ivanov will be a key advisor and principal for the venture fund and it will be managed by Maxim Kuzin. Waves said the initiative will take the form of a Cayman Islands GP/LP Venture Fund.

“As the most enterprise-ready blockchain platform in the world, it is important that Waves is at the forefront of every aspect of the emerging crypto economy,” said Ivanov. “That means technological excellence, but it also means shaping the regulatory landscape and actively furthering use cases for every sector. In this instance, we’re very proud to be partnering with experts from the asset management industry and launching a new blockchain Fund for mainstream investors, which will pioneer best practices and showcase the strength of blockchain technology to a new market.”

Last month, Waves created an incubator called Waves Lab to support projects and teams who are building disruptive solutions, using the company’s infrastructure. The incubator provides full support – including seed funding, legal support, advice, resources, funding and public relations & marketing – for pre-ICO projects who meet the company’s requirements. Waves Lab provides seed funding of up to $300,000 for the right initiatives.