A new venture capital project that will invest $87m in blockchain startups is set to launch for the US market.
Announced last night during an event in San Jose, Califiornia, Chinese VC firm Node Capital said that they are opening a US-branch with a local team - and plan to invest 200,000 ETH in new projects in the space.
Published on Chinese social media site Wechat, the post outlining the event’s proceedings did not specify any time-line of the new project’s launch, but the venture is a significant move for the company - which currently invests in 160 blockchain projects.
With 80% of their investments based in China - including the controversial “trans-fee mining” exchange FCoin - the move is also an encouraging validation of the US blockchain space as crypto-markets continue to go through a prolonged bearish phase.
Nor is it the only project that is keen to look beyond current market sentiment. On Monday, private American venture capital firm Andreessen Horowitz unveiled plans to launch a $300 million fund that will invest in crypto companies, cryptocurrencies and crypto protocols.
With the fund explaining that many within the new company felt the crypto boom reminded them of the “early days of the internet, web 2.0, or smartphones all over again,” these latest investments will encourage investors in the space as they look for signs of positive movements within the industry.