Waves Platform Launches Venture Capital Fund Focusing on Crypto-Assets

EXCLUSIVE – Public blockchain platform Waves is launching a new blockchain venture product called Basics Fund to focus on investing in crypto-assets and pre-sale ICO tokens.

The fund is dedicated to investment in blockchain infrastructure, specifically in a diversified portfolio of promising startup projects in the blockchain space. Aside from pre-sale ICOs and crypto-assets, the fund will look at arbitrage and event-oriented trading as areas of interest.

According to today’s announcement, the fund will seek out candidates with “unique blockchain solutions with a real-world application,” with innovative technology and an established track record.

The Fund will consist of hedge fund managers and members of the Waves team, including its CEO, Alexander Ivanov.

Ivanov said in an email statement to Bank Innovation: 

As the most enterprise-ready blockchain platform in the world, it is important that Waves is at the forefront of every aspect of the emerging crypto economy. That means technological excellence, but it also means shaping the regulatory landscape and actively furthering use cases for every sector. In this instance, we’re very proud to be partnering with experts from the asset management industry and launching a new blockchain Fund for mainstream investors, which will pioneer best practices and showcase the strength of blockchain technology to a new market.

The fund will be registered as a Cayman Islands GP/LP Venture Fund. An initial $10 million in investment is sought for January 2018, with a total of $30 million by April.

Founded in 2016, Waves provides infrastructure and tools designed to support the issuance, trade and exchange of digital assets or tokens using blockchain technology.

Earlier this year, the company partnered with Deloitte to form a regulatory department to provide legal, Know-Your-Customer (KYC), and business due diligence advice for ICOs and blockchain companies including exchanges, marketing companies, ICO platforms, blockchain platforms, professional services firms and reputable individuals.

The Switzerland-based company completed its Initial Coin Offering (ICO) in June 2016, raising more than $16 million (30,000 BTC — now over $400 million.)

To learn more about the latest developments in blockchain and cryptocurrencies join us on March 5-6, 2018 at the Parc 55 in San Francisco for Bank Innovation 2018. Click here to request an invitation.