17 Jul 2018 Samantha McLauren
Block.One Announces $200 Million Joint Venture Fund
This is the fourth capital investment added to EOS VC’s history, totaling at $600 million.
The newly formed joint venture focuses on investments in projects based in Asia, using EOSIO. The investments are the largest by far in cryptocurrency funds since the coin market collapse in early 2018.
Michael Cao, well-known blockchain investor, who also started a US blockchain mining office, commented that the blockchain industry and space are aggressive, but there is a significant level of confidence that the speed, versatility, and ease of use of the EOSIO open-source platform will help the fast and radical innovations which have been limited so far because of the constraints of the current protocols.
He added: "We are eager to help and support a framework that will drive standard blockchain reception and encourage new network driven plans of action."
Furthermore, Brendan Blumer, Block.One CEO’s added that Block.one is pleased to welcome aboard Michael and Winnie and the investment from their funds, which will empower EOSIO to speed-up the digital and crypto space transformation in Asia.
Blumer added: “EOS VC is extending its worldwide reach through multiple partnerships that enhance EOSIO ventures global access."
The fund‘s establishment is another success for EOS VC, which earlier announced partnerships with Galaxy Digital, Finlab AG, and Tomorrow Blockchain Opportunities. To support the development of the EOSIO platform, Block.one plans to invest the US $1 billion in partnerships with the major venture capital investors.
The EOS VC program offers entrepreneurs and developers the needed investment to create network-driven organizations utilizing EOSIO.