Block.one, on 5th July, announced the appointment of Mike Alexander as the CEO of Block.one’s $1 billion venture capital arm, EOS VC. Alexander was the former CEO of Jefferies Asia and will now act as an integral part of the Block.one Executive Committee.
The leader believes that Block.one will drive the new generation of technology. He also said:
“The vision of its founders has resulted in it being one of the fastest-growing organizations in the world and I am excited to be joining. The company’s unique position as the publisher of the EOSIO open-source code means that it is poised to lead the way in investments related to the burgeoning platform.”
EOS VC is a program that aids the funding of entrepreneurs and developers. Through this, they create community-driven businesses to benefit EOSIO. The arm also invests in a diversified portfolio of blockchain-backed companies that rely on EOSIO for their technology.
As the CEO, Alexander has the role of handling direct venture investments as well as nurturing EOS VC partnerships by managing the two efficiently. However, his primary focus will be sourcing and funding the projects running on the EOSIO ecosystem.
The key strategy of EOS VC is venture capital investment and partnership through which it plans to support and develop the EOSIO ecosystem. It has an additional plan to launch mentorship activities for blockchain-backed products and startups with a unique potential to grow. The VC partnerships have pooled an estimated amount of $700 million in the US, Europe and Asia.
According to Rob Jesudason, the Group President of Block.one, the efforts put in EOS VC are critical in leading innovation within the EOSIO ecosystem. It is also important for incentivizing its adoption. He added:
“We are committed to supporting companies that want to build businesses and DAPPs on the platform. Mike has extensive experience in investment banking and is one of the most respected individuals in the financial services industry in Asia. I am delighted he is joining the team.”