Richard Branson

Richard Branson: “Excited” to be Backing Blockchain

Blockchain, FinTech, Innovation, Investing, News | July 11, 2017 By:

Count entrepreneur Richard Branson as a blockchain and Blockchain backer.

The Virgin founder, who has dabbled in record labels, airlines and space travel, among other endeavors, is an investor in wallet provider Blockchain’s Series B funding round. He revealed his reasons in a blog post yesterday.

“What we like is that the Blockchain team, run by co-founders Peter Smith and Nic Cary, have built a platform that will allow them to be the custodian of any digital assets should alternate use cases of blockchain technology reach critical mass,” Branson wrote. “While our hypothesis about blockchain technology adoption is in its infancy, we are excited to be backing the entrepreneurs behind Blockchain.”

He added: “We’ve had to change course in many Virgin businesses over the years as industries have evolved. So it is important when making early stage investments to be backing the smartest entrepreneurs, who know how to deal with these changes.”

Blockchain’s Series B funding was the largest round ever by a blockchain company, with funding from Branson, Lightspeed Venture Partners, both of whom also participated in the Series A round in 2014.