Blockchain Capital Raises $10 Million ICO for VC Startup Fund

Blockchain Capital recently raised $10 million for a venture capital fund, Blockchain Capital III Digital Liquid Venture Fund, LP, which it calls the first venture capital fund raised by a digital fund offering.

The venture capital firm’s new digital liquid venture fund recently raised funds through a digital token offering called BCAP token.

The Ethereum-based tokens will represent a partial ownership in the fund. The tokens will be issued on May 10.

Funds To Support Startups

“The $10 million will be used to invest in blockchain startup companies,” Brock Pierce, managing partner at Blockchain Capital, told CCN. “We will be investing in the equity of these startups and will also consider token-based offerings.”

“We’re excited to be the first venture capital firm to offer a tokenized security in a legally compliant manner, Pierce said. “We see this as a marquee turning point for the venture capital industry and the way startups raise capital. We believe this structure is superior for investors and startups alike. As a result, we expect and welcome other venture capital firms and startups to

Read more ... source: CryptoCoinsNews

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