Life.Sreda, a Singapore-based fintech venture capital firm, has launched a $100m new fund.
The new vehicle, called Banking on Blockchain Fund, will be dedicated to investing in innovations in blockchain technology in Europe and Asia.
The firm’s initiative is based on the belief that 2016 is the year in which the blockchain technology is accepted and adopted by people without realizing it in all banking services, from back office services to corporate banking and retail banking, and which will see many traditional industries disrupted by the blockchain technology, including remittance market, real estate, jewellery, art, etc.
The Singapore and London based team of the fund includes:
– Chris Skinner (Partner/CEO),
– Vladislav Solodky (Partner),
– Thomas Labenbacher (Partner/Managing Director),
– Igor Pesin (Partner/CFO), and
– David Brear (Partner/Investment Director).
The fund will start investing later in 2016 following the first close, which is expcted to take place in the third quarter of 2016 at $50m.