$100 million! Blockchain investment fund aims at the pockets of big banks

As the concept of blockchain becomes more and more popular, a new investment fund is seeking to raise $100 million in the next two years to promote investment in the blockchain field.

The fund, co-founded by financial technology consultant Chris Skinner Skinner and Singapore-based venture capital firm Life.Sreda , hopes to raise $50 million by the end of this year and an additional $50 million by the end of 2017.

According to a report in the Financial Times, Life.Sreda, a venture capital firm whose portfolio focuses on FinTech and payment, has invested more than $5 million to date.

Also involved in the new initiative are Thomas Labenbacher, who will serve as managing director of the fund. Labenbacher previously worked at Fidor Bank and Western Union, and David Brear, a former director at consulting firm Gartner, who will serve as a principal partner of the fund.

The fund aims to raise money from mid-sized banks, Skinner told the Financial Times, and will provide consulting services and research to participating banks.

“Based on the knowledge gathered from the companies we invest in, we will provide research findings and advisory services to participating banks,” he said.

Original article: http://www.coindesk.com/new-fund-seeks-50m-for-blockchain-investments-by-end-of-2016/
By Stan Higgins
Compilation: Overnight porridge
Source (translation): Babbitt Information (http://www.8btc.com/blockchain-investment-fund)