Blocktower Finalizes Their 140 Million Raise

Bitcoin ushered in the way for a larger interest in the field of cryptocurrencies from both retail and institutional investors, from governmental organizations, national officials, technologists and many others.

There are those that shun the world of cryptocurrencies and those that embrace that it. The rise of the leading digital currency has given rise to other digital coins. These other virtual assets may have substance or may not but they are certainly in existence and are receiving attention in trades and contributions from the larger developer community.

The currencies have drawn interest from the investor community due to the fact that there were gains that were realized in these currencies. At the same time, there are expectations of more gains to be made.

As such, different options have arisen, for instance, the appearance of futures contracts for digital assets like Bitcoin, these financial offering expansions allows for further ways for one to invest. While growing the system of cryptocurrencies.

These financial offerings have contributed to financial firms that are focused fully on this space, who seek to invest correctly and reap the rewards from their calculated decisions.

One of these many firms that have popped up over the years is called BlockTower.

Blocktower, a firm based in Connecticut, dubs itself as an Institutional cryptocurrency hedge fund. The firm was recently launched late last year, in August and has been quite vocal while rapidly taking actions to participate in the marketplace.

Fundraising and Recruiting

Their latest action has been to go through an event for fundraising. The cryptocurrency hedge fund has gone through and raised a hundred and forty million dollars over the course of their fundraising event. They were able to acquire these funds from a variety of financial offices, including private equity, specifically venture capital firms.

In addition to conducting their fundraising efforts, they’ve also take the time to recruit. They’ve recently hired a former employee of the Goldman Sachs Group. The new recruit held the role of a vice president the financial institution. The individual will be joining Blocktower as the eighth individual to work for the Blocktower firm.

Visionary Investors

The firm has been able to raise funds from visionary investors like USV or Union Square Ventures LLC, founded in 2003 and headed up by people like Fred Wilson. Union Square is a New York-based firm that manages assets totalling one billion. The firm has invested in companies like Kik which has launched their Initial Coin Offering last year. USV has also invested in firms and companies like Polychain Capital, Blockstack, Coinbase, Protocol Labs, and many more interesting companies.

BlockTower has also received financial support from legendary investment firm Andreessen Horowitz.

They have thus concluded their raise for their initial fund on the first of this year and will now continue their efforts to pursue higher returns.

Increasing Interest

As the opportunities in the sector increases, more firms will seek to get involved and raise funds to pursue greater returns, as this happens we should see interesting happenings in the sector, as funds spill over into interesting projects, tokens, and currencies.

By | 2018-01-06T18:30:47+00:00 January 6th, 2018|Cryptocurrency News|0 Comments

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