Golden Gate Ventures Launches $10 Million Cryptocurrency Fund

Golden Gate Ventures, a venture capital firm based in Singapore, said on Friday that it is launching a $10 million cryptocurrency investment fund. The fund will invest in cryptocurrency exchanges and digital asset providers.

Founded in 2011, Golden Gate Ventures has since invested in more than thirty companies, all of them in South-East Asia. The firm focuses its efforts on the internet and mobile start-ups, covering, amongst other things, e-commerce, marketplaces and mobile applications.

The firm claims to be looking at investing in companies that want to expand in Southeast Asia. Countries the company has been investing in include Indonesia, Malaysia, Thailand and the Philippines.

The new fund is going to be called LuneX Ventures and will be investing in early-stage companies. LuneX Ventures’ funds will come from a combination of family offices and high-net-worth individuals.

Not alone

Golden Gate Ventures is not the only firm to create a cryptocurrency-focused fund. In fact, a huge number have been popping up, particularly in the United States, over the past couple of years.

As reported by Finance Magnates, in the first half of 2018, 61 cryptocurrency funds had been launched across the world. Twenty-nine of these were based in the great U-S-of-A, by far the most, with Australia and the UK having the next highest number.

In 2017, 130 new funds were created as the cryptocurrency craze reached its peak. This was a massive increase from 2016 when only 25 cryptocurrency funds were launched.

A number of large firms, including Coinbase, have launched their own funds. Having said this, in June of this year, Bloomberg reported that nine cryptocurrency hedge funds had closed down in 2018.

This was the result of a large decline in the value of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term. Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, for instance, is trading this Friday at $6556.25 / 1 BTC, having tumbled from a high of $20,000 / 1 BTC earlier this year.