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SparkChain Capital is $100M fund for Blockchain startups

“a small targeted holding of actual cryptocurrencies”

sparkchain 100m fund for blockchain startups

Yesterday, SparkLabs launched SparkChain Capital, a $100 million fund for Blockchain and cryptocurrency startups.

‘SparkLabs Group’ a company that operates accelerators across Asia, launched this $100 million fund to invest in newly-formed companies associated with blockchain and cryptocurrency.

The project will be led by managing partner Joyce Kim, who was formerly a VC at Freestyle Capital and latterly cofounder of Stellar Development Foundation.

sparkchain capital is 100m funding for blockchain startups
Joyce Kim

 

“Proud to announce that I am joining the SparkChain team and their newly announced $100M blockchain fund.”, said Joyce kim

Net Jacobsson, co-founder of SparkLabs Global Ventures and former director of International business development at Facebook, will also be working at SparkChain Capital alongside Mr. Kim.

“With the rapid pace of innovation moving in this space, it is crucial to have the most experienced advisors involved from the early outset,” explained Jacobsson. “At SparkChain Capital, we have prepared ourselves by carefully recruiting some of the best securities advisors and fund attorneys to make sure that we always will be SEC compliant no matter how the wind blows.”

According to a press release, SparkChain will additionally have “a small targeted holding of actual cryptocurrencies,” which it “will not actively trade.

About SparkLabs

Back in 2012, in Seoul, SparkLabs launched its first accelerator focusing on South Korean startups, though around a fifth of all graduates hails from other countries. After that, it launched accelerators in Korea and China.

Last month, the company launched SparkLabs Cultiv8 , an Australia-based advanced Ag and food Technology accelerator that will offer companies prototyping and scaling support for their research and business.

Moreover, SparkLabs also operates ‘SparkLabs Ventures’ and ‘Seed-staged SparkLabs Global Ventures’. The first one is a VC fund with a focus on Korean startups only, while the second one seeks out companies around the world.

SparkChain Capital will be aimed at Blockchain and cryptocurrency companies around the world, while the SparkLabs’ existing network across Asia will be leveraged in countries like China, Japan and South Korea.

Through its Seoul accelerator, SparkLabs has already invested in Blockchain startups, including the enterprise-focused blockchain company Blocko and bitcoin remittance startup Sentbe. And through the SparkLabs Global Ventures, the company has invested in Swedish bitcoin exchange Cryex.

The SparkLabs Global Ventures has so far invested around 50% of its resources in the U.S. and the remaining 50% has been divided between Europe and Asia. SparkChain Capital will follow a similar investment pattern, i.e. it will focus on investing in the big things irrespective of where they are

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