The venture company Blockchain Electric Capital is going to invest in shares and tokens of startups engaged in promising areas of the crypto industry.
Blockchain Electric has raised $1 billion to support early-stage startups. This includes a $400 million equity fund that closed last year and a $600 million token fund that closed last month.
Curtis Spencer, founder of Blockchain Electric Capital, said that the company is actively involved in the Web3 movement and is ready to provide project developers with the support and resources necessary to promote their projects to the cryptocurrency market:
“We have spent the last four years building the software and data systems that allow us to participate in Web3 ecosystems. We look forward to continuing to push the boundaries of the next generation internet, where investors and protocols can create value together.”
The second founder of Blockchain Electric, Avichal Garg, says that the company employs engineers with rich experience in decentralized governance, tokenomics, and community building. All this makes it possible to better understand and support portfolio companies in their endeavors.
The company says it intends to invest between $1 million and $20 million in both equities and tokens, with a focus on NFTs, DeFi, DAOs, and blockchain infrastructure. Blockchain Electric plans to explore the NFT market, although it does not yet plan to directly invest in digital art and other collectibles. Rather, the company intends to stake on NFT marketplaces and other projects that allow investors to use their digital collections as collateral.
In January, Electric Capital Developer reported that 1,000 DeFi developers managed more than $100 billion in locked assets in 2021. There are now about 2,500 developers involved in the DeFi sector. Electric Capital co-founder and partner Curtis Spencer believes that governments around the world can end the existence of bitcoin if they ban mining activities. Despite this announcement, Blockchain Electric continues to support startup crypto companies. It is worth noting that in 2021, the capital market in the decentralized finance sector grew 7.5 times, to $150 billion.
Source: Bits
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