In a move that could have major implications for the cryptocurrency industry, two of the most well-known bankless podcast hosts have reportedly launched a $35 million venture fund. According to sources close to the matter, the fund is being led by Chris Burniske and Anthony Pompliano, who are both well-known figures in the crypto space.
The fund, which is called Placeholder Ventures, will focus on investments in early-stage crypto startups. The two hosts have reportedly already made several investments in the space, including Blockstack, a blockchain-based platform for decentralized applications. The fund is also said to be looking at investing in companies that are working on solutions related to decentralized finance (DeFi), digital asset management, and other areas of the crypto industry.
The launch of Placeholder Ventures is a significant development for the crypto space, as it marks the first major venture fund to be led by two well-known figures in the industry. It is also a sign that more institutional investors are beginning to take an interest in the space, as venture funds typically require large amounts of capital to get off the ground.
The fund is also notable for its focus on early-stage startups. While there are many venture funds that focus on later-stage investments, Placeholder Ventures is one of the few that is specifically targeting early-stage companies. This could be beneficial for the industry, as it could help to bring more capital to startups that may not have access to traditional venture capital.
Overall, the launch of Placeholder Ventures is a major development for the crypto industry. It is a sign that more institutional investors are beginning to take an interest in the space, and it could help to bring more capital to early-stage startups. It will be interesting to see how this fund performs in the coming months and years, and what impact it has on the industry as a whole.
Source: Plato Data Intelligence: PlatoAiStream