Draper Goren Holm has announced the launch and principal close of its $25M USD blockchain fund.

Fund 1 was launched at the seventh annual LA Blockchain Summit, which is produced by the Los Angeles-based venture studio, and is the first traditional venture fund of $25M where Seed and Series A investments will take precedent in promising fintech and blockchain startups.

Although the fund is international in scope, Draper Goren Holm say they will now be more focused on Europe, and will be opening a new office in Vienna, Austria, in December 2020. Explaining the decision to focus on Europe, Founding Partner Josef Holm noted the continent was becoming a FinTech hub and centre for blockchain innovation, thanks in large part to pro-crypto and blockchain friendly governments.

Discussing the news Founding Partner of Draper Goren Holm, Alon Goren, said:

“This first close was a sort of ‘friends and family’ round. Alongside Tim Draper and other individual friends investing in us again, other blockchain funds like Blockchain Founders Fund and the Keiretsu Capital Blockchain Fund of Funds participated.”

While Special Limited Partner of Draper Goren Holm, Tim Draper, added:

“I’m thrilled to participate in Draper Goren Holm’s Fund 1 as the team continues to maintain their dominance in Los Angeles, and soon, internationally.

“Our premier blockchain conference and accelerator has proven to funnel some of the industry’s top talent and entrepreneurs, and this new fund will allow us to double and even triple-down on our favorite projects.”

In addition to producing the world’s largest blockchain conference, Draper Goren Holm’s blockchain venture studio, which actively accelerates and incubates early-stage startups, now has 18 companies in its portfolio; Giftz, Degens, CasperLabs, Owners, Totle, Vertalo, Rivet, Element Zero, Coinsquad, DeFi Money Market, Innovesta, LA Blockchain Summit, Return, Lunar Crush, and Security Token Summit. 

The venture studio is also a member of the Draper Venture Network – a global network of venture capital funds which provides portfolio companies with distribution and a dedicated support staff in Silicon Valley. 

AYO.NEWS says:

There’s a lot of exciting innovation going on in the blockchain and fintech space right now, especially in the emerging hubs of Europe, so it’s great to see there’s still a healthy flow of venture capital available for the right startups, despite the world’s wide economic woes. It will be interesting to see which startups are added to the already impressive Draper Goren Holm portfolio. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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