An executive at electronics giant HTC is leading a new $50 million -focused fund, , that includes a partnership with the firm, reports on April 17.
The new fund is reportedly held in currency and focused on “regular VC deals, as opposed to -based investments.” The fund will reportedly mainly target early stage firms in , as well as the consumer sphere of ecosystem.
According to the firm’s LinkedIn , the -based fund will have a particular focus on markets and emerging economies.
Proof of Capital fund is led by three tech and VC figures, , who is currently developing HTC’s as the firm’s decentralized chief officer; , partner at -based global VC firm 500 Startups; and , who served as community lead at Greylock Partners, an early investor in , Airbnb, Linkedin and others.
According to TechCrunch, the fund includes a partnership with HTC, which will allegedly allow Proof of Capital portfolio companies to work with HTC directly to develop services or products for Exodus and potentially other HTC ventures.
Yeung, who has in more than 50 tech startups, stressed that the setup of Proof of Capital is traditional, noting that the team comes from a “more traditional VC background.”
Recently, investment arm project Xpring and Bain Capital Ventures in early-stage firm Robot Ventures.
Previously, the New York Times that Facebook was seeking support from various VC firms to develop its stablecoin. Following the reports, venture capitalist and well-known () bull to Cointelegraph that he is planning to meet with Facebook to discuss the investment.
Published at Thu, 18 Apr 2019 04:46:00 +0000
