Franklin Templeton Launches Blockchain Venture Fund

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Global investment fund Franklin Templeton plans to raise $ 20 million for its first blockchain-related venture fund.

Franklin Templeton manages $ 1.5 trillion in assets. The San Mateo-based Franklin Templeton Branch has registered Franklin Templeton Blockchain Fund I, LP with the US Securities and Exchange Commission (SEC). According to the documents, the fund has already raised $ 10 million from one sale.

Blockchain venture funds typically invest in startups building their businesses using distributed ledger technology. Some companies raise more than $ 20 million in rounds led by large firms. The Franklin Templeton fund can be considered relatively small, as in the end the company plans to raise only $ 20 million in it.

However, the foundation is further evidence of Franklin Templeton’s growing interest in the industry. Earlier this month, it became known that the fund is recruiting employees to organize trading in bitcoin and ether and products based on them. This week, the company posted another engineer vacancy in the tokenized asset development department.

“We are looking for talented developers to join us in creating a completely new platform. It will significantly expand the concept of investing and asset management in relation to the entire digital asset industry, ”says the job description.

The company is looking for candidates with experience with public blockchain protocols including Algorand, Ethereum, Solana, Stellar, and Tendermint. Recall that in 2019 Franklin Templeton announced that he would track the shares of his investment fund on the Stellar blockchain using the tools of the startup Curv.

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