Ripple Invests $25M in Blockchain Capital's Latest Fund

Blockchain Capital

At the time, the firm said the proceeds came in the form of $125 million to its IV LP fund, and $25 million worth of cryptocurrency for its Parallel Fund IV, but it did not identify the cryptocurrency.

In the case of Coinbase, Ripple said it was willing to pay $100 million worth of XRP to start letting users trade the asset.

Two things are unusual about this: This is a rare example of a startup funding a venture capital firm, as opposed to the reverse, and it's a venture capital firm that has previously funded it, too.

What is Obtained in the Ripple Investment?

The investment firm is expected to invest in entrepreneurial teams that are blockchain-focused. Ripple's investment will allow them to develop inroads with entrepreneurs and companies focused on other use cases, including those that use the XRP Ledger and Interledger Protocol.

With its largest fundraising round to date, Blockchain Capital now manages $250 million in assets with companies including the likes of Coinbase, Kraken, Circle, and notably Ripple, under its investment portfolio.

"There are entire verticals - like healthcare or identity management - that could benefit from blockchain or distributed ledger technology", said Stephens.

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"Whether it's using XRP, bitcoin or just the underlying blockchain technology, our goal is to find the best projects and give them the resources to be successful companies that deliver value to customers for the long term", he added.

Blockchain Capital is a rare breed - it has set up a $75 million fund that runs in parallel to its own fund that reportedly only takes contributions made in crypto. Griffin stated that: "is is the first fund we have contribute".

The company, which recently airdropped a massive cache of XRP into United States public school coffers is hoping to stimulate interest in the creation of applications that use its currency and blockchain, which has attracted a lot of interest as a back-end technology in the banking industry, but has only been adopted by one other Coin thus far - the somewhat mysterious Allvor.

The native currency of San Francisco- based company's public Ripple Consensus Ledger [RCL] is XRP token.

Blockchain Capital is blockchain-centred venture investor, founded in 2013 to help entrepreneurs invest ideas, build companies, and manage projects on blockchain technology.



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