Golden Gate Ventures Launches Cryptocurrency Fund in South-East Asia
Singapore's venture capital company Golden Gate Ventures is launching a $10 million cryptocurrency fund in South-East Asia. The main purpose of the fund is to invest in various startups, including crypto exchanges. The project will be headed by the CEO of Golden Gate Ventures - Kenrick Drioningen. The launch of such a project is more profitable than ever, amid the favorable situation in the cryptocurrency sector.
Concerning the launch of the fund, Kenrick Drioningen stated the following:
“We view blockchain as a foundational technology, on a par with or possibly exceeding the Internet in disruptive potential. Right now valuations have come down to more reasonable levels and the industry is moving from pioneers to early adopters, which is a great time to start investing.”
It is known that the venture fund will also invest exclusively in high-performance blockchain projects and cryptocurrency assets. One of the directions for investment will also be startups, which are developing practical solutions for the security of storing digital assets. By the end of the year, it is planned to invest up to 10 million US dollars.
Prior to the launch of the fund, Golden Gate Ventures actively supported the work of Ethemum Blockchain Omise, the platform for decentralized payments based on OMG and the ERC20 encryption marker.