As reported by Fortune, Venrock – venture company, which officially belongs to the Rockefeller family have partnered with crypto investment group Coinfund to support innovatsionnyh cryptocurrency and blockchain projects.
Coinfund is an investor in such famous projects as Coinlist, a subsidiary of the project AngelList and Kik – chat-a social network that has managed to gather almost $ 100 million during its ICO. Fortune notes that Venrock and Coinfund both are investors in a startup that deals with streaming video YouNow.
Managing partner, Venrock David pakman said that the price of “money number one in a week, a month or even a year” – it is not that from which they proceeded, when taking the decision to invest in the cryptocurrency sphere:
We are very patient long-term investors [ … ] we wonder what will happen in the next five to ten years. Whether this new technology of distributed registers to change an entire industry?
Pacman believes that the most important thing in crypto is “the possibility of establishing a sustainable decentralized platforms, services and applications”:
Now finally it has become possible to create decentralized networks in which management is done directly by the user on the basis of consensus […] In this scenario, application products, such as instant messengers, social networking, and infrastructure applications such as services for storing files is very similar to the utilities – they are owned and operated by participants within these services. For many of us this is the mission of the crypto industry.
In response to the question about what he thinks about the number of fraudulent ICO projects in this region, Parkman said that the cryptocurrency industry now is quite “wild space” and the region of the ICO “the wildest area in the entire cryptocurrency sector”:
Pacman added that he supports efforts by regulators aimed at combating the “bad actors”, but believes that it is necessary to be careful not to “throw the baby out with the dirty water”.
Parkman also noted that decentralized systems can eventually compete with the more traditional way of raising funds through venture investing, which in his view effectively performs the role of gatekeeper:
I do not believe that only a small group of people have to make decisions about which projects will be able to collect the money and begin to develop.
Co-founder Coinfund Jake Brohman said the Fortune that Coinfund will “work closely with Venrock and to assist the blockchain projects through mentoring and coaching”.
Recall that the investment Fund of George Soros more and more intensively to invest in crypto projects.