Backed by financial firms and wealthy individuals, venture capital funds have already partially replaced the role played by retail investors, thus cementing the role played by blockchain technology and cryptocurrencies in the coming future.
On Friday, Singapore-based Golden Gate Ventures, a venture capital firm, stated it will launch a $10 million fund, called LuneX Ventures, to invest in blockchain and cryptocurrency technology startups.
LuneX Ventures will invest in early-stage startups globally including in security providers and cryptocurrency exchanges.
Investors in the fund will include high-net worth individuals and family offices.
Golden Gate Ventures is among a cluster of similar ventures that backed by wealthy individuals and financial firms, invest in the cryptocurrency space. These firms have already partially replaced the retail investor base, and have been the engine for bitcoin’s skyrocketing growth and adoption.