Switzerland-based Pangea Fund is making its debut after closing a $22 million seed round backed by crypto investor Roger Ver.
Announcing the on Wednesday, Pangea said other investors in the round included Copernicus Asset Management, a Swiss firm regulated by the country’s Financial Market Supervisory Authority. Copernicus is also acting as investment manager for the fund.
Pangea will invest in “transformative” startups around the world to provide them with an early-stage capital boost and other resources. The aim is to focus on the “commercial and industrial applications” of technology, and there are no plans to invest in , the fund said.
The fund’s Swiss investment advisor is Investment Advisory Sagl, while U.S.-based Investment Advisory LLC is acting as sub-advisor. Pangea expects to cap its fundraising at $200 million.
James Duplessie, co-founder of Investment Advisory Sagl, said he believes technology will “fundamentally alter the way society collaborates, transacts, governs and brings new concepts to life.”
He continued:
“ technology has the potential to change the nature of the systems that lie beneath the things we do every day and could be the greatest driver of value creation in our lifetime.”
Maggie Rokkum-Testi, chief investment officer of Copernicus Asset Management, added that the use cases for “a transparent, verifiable register of data transactions are endless.”
Investment Advisory Sagl will also launch a Swiss-based incubator to be called Ticino Labs in the coming months.
Roger Ver image via CoinDesk archives
Published at Wed, 27 Feb 2019 13:14:48 +0000
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