Coinbase, the San Francisco, California digital currency exchange, is launching an investment fund.
Coinbase Ventures will help the company to build its own set of products and services in the crypto world providing financing to promising early stage companies that have the teams and ideas that can move the sector forward in a positive, meaningful way.
At the beginning, Coinbase Ventures focuses on building strong relationships and helping to spur on the development of the ecosystem by leveraging the company’s alumni network and people who have worked at Coinbase.
In addition the fund may invest in companies that look competitive with Coinbase.
Founded in 2011 by Brian Armstrong and Fred Ehrsam, Coinbase is a digital currency company that brokers exchanges of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin with fiat currencies in around 32 countries, as well as bitcoin transactions and storage in 190 countries worldwide.