IDEO Files For New $100 Mln Crypto Fund.

IDEO Files For New $100 Mln Crypto Fund.

2021-02-09 | Big Bob

IDEO Files For New $100 Mln Crypto Fund.

An American design and innovation consultancy firm, IDEO, has filed for a new cryptocurrency fund via its blockchain-oriented venture capital subsidiary. IDEO CoLab Ventures, an early-stage investment fund focused on blockchain development, has applied today on 9th Feb. for a new cryptocurrency fund with the United States SEC [Securities and Exchange Commission]. Referred to “IDEO CoLab Crypto Fund II LP,” the new fund features a sum offering amount of $100 Mln. The application was filed by IDEO CoLab director Joe Gerber. The SEC filing follows IDEO CoLab's announcement of a $21 Mln primary-stage crypto fund from earlier in October 2020. The new fund is backed by executives from the leading crypto players like Coinbase as well as renowned businesses like Twitter, Fortress, and IDEO itself. Other backers embody major investors like Avanta Ventures, GS Group, Hanwha Asset Management, Fineqia along with several others. As announced earlier, IDEO CoLab has assisted incubate over 30 cryptocurrency-associated startups since making their first investment earlier in 2018. A number of IDEO’s industry investments reportedly embody digital asset trading platform FalconX and Handshake, a decentralized naming & certificate authority. The Managing Partner at GS Group’s GS Futures, Taehong Huh, added that IDEO Colab is perfectly positioned to steer the movement supporting industry partnerships between investors, entrepreneurs, designers, policymakers, as well as corporations.
“We believe that the disruptive nature of blockchain technology remains underappreciated by the general public, including corporations like ourselves, as it has not yet been translated into broadly desirable products or experiences,” he explained.

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