Developments

Pangea blockchain fund is launching after a $22 million backing from Rodger Ver

Pangea blockchain fund, a Swiss-based startup is launching after receiving a $22 million seed round from Rodger Ver. This is according to an announcement that was made earlier today. Other investors that have given money to the startup include Copernicus Asset Management which is acting as an investment manager to the fund. Copernicus is also a firm that is regulated by the nation’s Financial Market Supervisory Authority.

According to the statement, the Pangea blockchain fund will focus on investing in transformative blockchain startups around the globe. One of its roles will be to provide an early stage capital boost and other necessary resources. The primary goal of the firm will be to focus on commercial and industrial applications that are based on the blockchain technology. However, the company has no plans of investing in cryptocurrencies.

Blockchain Investment Advisory Sagl is the chief advisor of the firm while the acting sub-advisor is US-based Blockchain Investment Advisory LLC. The firm has already made it clear that it intends to cap its fundraising at $200 million.

According to James Duplessie, who is the co-founder of Blockchain Investment Advisory Sagl, the blockchain technology has the potential to “fundamentally alter the way society collaborates, transacts, governs and brings new concepts to life.”

He went on to add:

“Blockchain technology has the potential to change the nature of the systems that lie beneath the things we do every day and could be the greatest driver of value creation in our lifetime.”

Maggie Rokkum-Testi who is the chief investment officer at Copernicus Asset Management also had a similar opinion. She said that the use cases of “a transparent, verifiable register of data transactions are endless.”

What’s your take on Pangea blockchain fund launch after a $22 million backing from Rodger Ver? Share your thoughts in the comment section below.

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Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.

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