On Friday 1st June, the founders of EOS platform, Block.one has exclusively collaborated with SVK Crypto, a leading blockchain investment firm based in London to speed up the growth and development of EOSIO blockchain ecosystem. Block.one and SVK Crypto are going to invest $50 Million for the fifth injection of capital for the EOS Virtual Capital [VC] initiative.
Hugh Cochrane and Shane Kehoe will be leads of the fund management team from SVK Crypto. Both of them have got more than a 25 years’ experience in making investments for early-stage technological enterprises and start-up firms.
The funds will be used to develop decentralized applications [dApps] that are created on the EOSIO blockchain. These dApps can be used for functions such as data ownership, data control, technological platforms, logistics, supply chains, and on social media platforms.
The Head of Fund management team of SVK Crypto said:
“Block.one has created the world’s most powerful infrastructure for decentralized applications and is the most forward-thinking company driving growth in the blockchain space. SVK Crypto is thrilled to partner with Block.one to establish a fund that enables developers to thrive. We look forward to helping to produce innovative game-changing DAPPs in the coming months and years.”
The CEO of Block.one, Brendan Blumer said:
“Working with a market-leader such as SVK Crypto is a positive step as we grow the impact and footprint of the EOSIO developer ecosystem, this fund further strengthens our top-notch roster of VC partners focused on identifying and fostering projects that are building a decentralized, open future.”
The Virtual Capital of Block.one of EOS VC, Brian Mehler commented:
“We aspire for our funds to be global leaders in blockchain venture investing. The teams at SVK Crypto and Block.one bring together broad leadership in the VC and funds space with blockchain expertise and exceptional go-to-market drive. This fund gives blockchain entrepreneurs and innovators reason to be excited about developing on EOSIO.”
EOS VC project of Block.one is also going to gaining support from around the world, some of the prominent investors include Tomorrow Blockchain Opportunities, Tomorrow Ventures, Galaxy Digital LP, FinLab. They have also entered into a partnership with Michael Cao and Winnie Liu to create $200 million funds for Asia-focused EOSIO projects.