Venture Capital Fund to Become First to Issue Own Digital Tokens
- Blockchain Capital plans offering to raise investment funds
- Most of $50 million fund will come from conventional investors
QuickTake: Bitcoin and the Blockchain
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Blockchain Capital LLC, which backs startups that use the technology best known for supporting bitcoin, plans to raise a new $50 million fund partly by issuing its own digital tokens, becoming the first venture fund to do so.
The San Francisco-based company seeks to raise a portion of its third blockchain fund through an initial coin offering, or ICO, of tokens and the larger part from traditional venture-capital investors who typically contribute a minimum, Managing Partner Brock Pierce, who is also chairman of the Bitcoin Foundation, said in an interview.