The venture capitalist has set up a fund to support crypto startups and FinTechs in the early stages of corporate financing.

The US-based draper Goren Holm has set up a fund of 25 million US dollars (USD)

This was published in a press releaseon October 6th in Los Angeles at the LA Blockchain Summit, which is one of the largest crypto conferences in the country. The venture capitalist invests in FinTech and start-ups that use blockchain technology.

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According to the venture capital company, companies in the early stages of their establishment should benefit from what is known as “Fund 1”. It wants to spend the money as soon as possible, with a focus on the European crypto market. So it’s no wonder that Draper Goren Holm wants to open an office in Vienna by December 2020.

Europe crypto can be happy

It is incredible to see how European governments have become crypto and blockchain supporters over the past few years, as their favorable arrangements have attracted a bevy of talented and diverse entrepreneurs carrying out unimaginable projects in Vienna, Zug and Berlin, just to name a few to name a few

said one of the founders of the crypto studio, Josef Holm. Only on October 2, the European Central Bank (ECB) published a report on the planned dispute with the euro on a blockchain basis.

The first financing round of the Draper-Goren-Holm-Fonds was not public. Only „friends and family members“ have been allowed to participate so far. According to the company, 18 crypto companies have so far been part of the investment company’s portfolio. This includes, for example, the WordPress plugin Totle , which allows websites to receive payments in cryptocurrencies .