fbpx

Tim Draper’s Draper Goren Holm Raises $25M for Blockchain Venture Fund

bit2Big > Bitcoin News > Tim Draper’s Draper Goren Holm Raises $25M for Blockchain Venture Fund

Venture capitalist Tim Draper’s investment office Draper Goren Holm is sinking larger investments in virtual currency-only startups.

Draper Goren Holm, a cryptocurrency investment firm in Los Angeles, told CoinDesk that it raised $25 million for its first venture capital fund to buffer its startup accelerator and back blockchain companies at higher investment valuations. 

The venture fund, announced last week, is planning to invest $250,000 to $500,000 in seed, Series A and a few later investment rounds, the firm said, whereas the accelerator funds pre-seed rounds for between $10,000 and $50,000 and 4% to 10% ownership stakes in startups.

“A majority of the value is captured in winning companies as they grow,” Alon Goren, a co-founding Draper Goren Holm partner with Josef Holm, said. “If we don’t have the cash to double down or triple down, we get diluted and lose some of that value.”

Draper Goren Holm, which brought Tim Draper onto its partnership last year, has invested in CasperLabs, a blockchain that mimics the Ethereum blockchain’s model; Vertalo, a Tezos blockchain security token issuer; and Tezos Stablecoin Technologies, a Tezos Foundation offshoot developing stablecoins, digital currencies pegged to fiat currencies.

Forge, a subsidiary of French investment bank Societe Generale, selected Tezos in September to test the issuance of central bank digital currencies (CBDC) and digital securities.

Billionaire Tim Draper’s namesake Silicon Valley venture capital firms – Draper Fisher Jurvetson, which he departed in 2013, Draper Venture Network, Draper Associates and Draper University – have invested in preeminent technology companies such as Tesla, SpaceX, SolarCity, Hotmail, Skype, Twitter, Twitch, Baidu and Ancestry.com.

Draper is also a bitcoin aficionado who paid $19 million for 30,000 government-seized bitcoins in a 2014 United States Marshals Service auction and invested in the digital currency exchange Coinbase and cryptocurrency-friendly stock trading app Robinhood with his personal money.

Bit2Big

Bit2big offers global digital finance solutions based on blockchain, cryptocurrency investments and blockchain services.

With a presence in Switzerland, Nigeria, Rwanda and Uganda we are driving the adoption of blockchain technologies in the east and west Africa.

Transformative, empowering, progressive and integral. At Bit2big we believe in ownership, financial stability and having control over your future.

News

Is Bitcoin mainstream yet? – The Mail & Guardian
August 4, 2021By
Is the crypto market finally back on track?
July 27, 2021By
Crypto Vaults: The modern-day savings account
July 20, 2021By

Recent Cases

Related Posts

Leave a Reply