Banking on Blockchain Fund (BB Fund)
Owners:
Life.Sreda
Tatfondbank
In the spring of 2016 mass media reported that the venture fund with Russian "roots" Life.Sreda started venture fund of narrow focus — for investments into a blockchain projects. Plans of creation of fund were for the first time publicly read in April, 2016.
BB Fund will be headed by Igor Pesin (CFO). The fund with the headquarters in London will focus on investments into commands from Europe and Asia. The first transactions are going to be made by the end of 2016. Investment conditions are not disclosed yet.
The first injection of Life.Sreda in new fund will make $5 million, it should find the rest in financial structures: it is planned that by the end of 2016 the volume of BB Fund will reach $50 million, and then will double by 2017.
"Banks a priori cannot create inhouse a disruptive technology: there is a mass of cases with huge budgets, hiring of employees when long saw a product, let out him — and it turns out that the market already left far forward — the director of business development of Life.Sreda fund Maxim Avdeev told. — From banks there is a need for technologies and the only place where it is possible to take them — community of financial those startups"[1].
Notes
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