Announcing the information on Wednesday, Pangea said investors in the round included a company, Copernicus Asset Management s Financial Market Supervisory Authority. Copernicus is acting as investment manager for the fund.
Pangea will invest across the world to supply them with resources along with an capital boost in & ldquo; transformative & rdquo; blockchain startups. The intent is to concentrate on the “commercial and industrial applications” of blockchain technology, and there are not any plans to put money into cryptocurrencythe fund said.
The finance ’s investment advisor will be Blockchain Investment Advisory Sagl, although U.S.-based Blockchain Investment Advisory LLC is behaving as sub-advisor. Pangea hopes to cover its fundraising at $200 million.
“Blockchain technologies has the capability to alter the essence of the systems that lie beneath the things we may be the driver of value creation in our lifetime and do daily. ”
Maggie Rokkum-Testi, chief investment officer of Copernicus Asset Management, added that the use cases for “a verifiable register of information transactions are endless. ”
Blockchain Investment Advisory Sagl will also launch a Swiss-based incubator to be known as Ticino Labs in the forthcoming weeks.
James Duplessie, co-founder of Blockchain Investment Advisory Sagl, said he considers blockchain technology will &ldquoalter the way society governs, transacts, collaborates and attracts new theories. ”
Roger Ver image via CoinDesk archives