NextBlock Global, a Toronto, CA-based new digital asset investment company, closed a $20m financing.
The backers were not disclosed.
Co-founded by CEO Alex Tapscott, Best-selling author of Blockchain Revolution and former investment banker, and Chief Investment Officer Charlie Morris, NextBlock is an institutional investor in digital assets such as Bitcoin and Ethereum. Following the deal, it will immediately begin to deploy capital.
THE PRESS RELEASE
New Digital Asset Investment Company NextBlock Global Announces Closing of Oversubscribed $20 Million Financing
TORONTO, July 31, 2017 /PRNewswire/ – Best-selling author of Blockchain Revolution and former investment banker Alex Tapscott launches NextBlock Global, a new digital asset investment company, announcing today the closing of an oversubscribed $20 million financing.
With the closing of the financing, NextBlock is now one of the leading institutional investors in the fast-growing and disruptive new digital asset economy. Digital assets, like Bitcoin and Ethereum, are foundational to the new Internet of Value, which is beginning to disrupt the economy in profound ways, upending everything from financial services to energy grids, media to manufacturing, and ushering in the next generation of world-leading companies, platforms and networks for this new economy.
NextBlock Global’s Founder and CEO Alex Tapscott said, “We are delighted with the outcome of this financing and we are ready to lead in this fast changing and disruptive marketplace,” adding “we saw tremendous demand from institutional and strategic investors who are looking to get exposure to this new asset class.” NextBlock will immediately begin to deploy capital, giving investors diversified exposure to the most promising investments in this space.
NextBlock Co-founder and Chief Investment Officer Charlie Morris added, “Blockchain has made the world of venture capital virtually unrecognizable: blockchain entrepreneurs are bypassing traditional gatekeepers and instead conducting vast global crowdsales of digital assets, which to-date have raised over $1.7 billion (CAD) this year. This is the fastest-growing market in the world and one of the most exciting areas to deploy capital.”
NextBlock Global is based in Toronto, Canada, one of the world’s leading hubs for blockchain innovation. “Locating in Toronto and in Canada is the perfect strategic fit for NextBlock,” Mr. Tapscott said. “Toronto has a deep pool of world-class talent, innovative regulators and banks, and some of the best blockchain startups in the world, and we are excited to contribute to this growing ecosystem.”
Looking forward, Mr Tapscott said, “We believe the future is not something to be predicted, it’s something to be achieved. NextBlock Global has the experience, market-access, strategy and domain expertise to achieve that better future, and we are excited to share that journey with all of our partners and investors. This is only the beginning.”