Roger Ver Invests In Blockchain Fund Raising $22 Million
Pangea Blockchain Fund, a Swiss-based startup, finished its seed funding round with a total of $22 million, and is ready to launch its international fund for investments in blockchain. The project was supported by a financial company Copernicus and bitcoin investor Roger Ver, owner of Bitcoin.com, according to the press release.
The fund is not going to invest directly in cryptos and will focus exclusively on “transformative” blockchain projects, as well as their use in commercial activities and industry.
James Duplessie, investment advisor at Pangea, stated the startup team believes that blockchain is able to bring new ideas to life and radically change the way people cooperate, make payments, or govern. The name Pangea means “the whole earth” (named after the pre-existing supercontinent) and emphasizes the company’s intentions to create new values and provide transformative innovations to the world, Duplessie explained.
Pangea plans to raise $200 million on finishing all funding rounds. The amount of investments received from Copernicus and Roger Ver is not disclosed.
In early January, Roger Ver was willing to invest $1.25 million in a payment service OpenNode, but was refused. The startup declined his offer due to Ver’s personal beliefs as he supports the controversial Bitcoin Cash fork. The OpenNode developers explained they did not want to work with “inferior” money.
In turn, Ver called the team’s worldview “tribal” and stated the firm made a rash decision.
Previously, Swiss bank Julius Baer announced the launch of cryptocurrency services.