Gone are the days when you need to “dress the part” and put on that $500 suit with a $50 Nordstrom tie to wow investors, now, getting the upper category investment class to throw money into legitimate blockchain investments requires at least a cowboy hat, and a persona that goes against the traditional “mutual fund” or hedge fund image.
Meet Brock Pierce, co-founded in 2013 Blockchain Capital (formerly CryptoCurrency Partners), former child actor in the “Little Big League” and “The Mighty Ducks”, and now active proponent of blockchain technology. Blockchain Capital reportedly previously had raised $85 Million since their inception up until October 2017, and in the most recent round has brought in another $150 Million of capital designated for blockchain project and cryptocurrency/ICO investing.
They have invested in the big names, Coinbase, Ripple, and what makes this announcement special is that this venture capital fund is to date the largest to concentrate on crypto and blockchain technologies. The fund has attracted the mainstream investor likely for the ease of using U.S. dollars and earning back U.S. Dollars versus buying tokens and earning in bitcoin or any other coin, which is attractive to the larger category investor. The fund is disclosed as high risk so its investors are typically using their speculation funds to get into the crypto investment game, with hopes of superior returns to the stock market.
In early 2017, Pierce managed the initial coin offering of EOS with a goal to raise $50 Million. The ICO was marketed via BlockOne, a new blockchain technology company also co-managed by Pierce. On its launch in June 2017, EOS raised $700 Million, and at the writing of todays article, its market cap is approximately $5 Billion.
It is no secret that Pierce has heavyweight or “whale” investment influence in the cryptocurrency world, so an investment with which he is associated would be less risky than with an unknown individual or company. It will be interesting to monitor the ROI of Blockchain Capital in the 6 months to come, which in the crypto space is the near equivalent of 6 years in the stock market.
If you are an investor, you can hear his the meat of his pitch here :