In Brief:
- USDC operator Circle launches a venture fund to support Blockchain startups.
- The company is concentrating on levelling the playing field for entrepreneurs and private investors.
Circle Internet Financial, LLC has announced the launch of a Circle venture fund to invest in exciting, early-stage blockchain ideas and companies. This will support Circle’s aim of increasing global economic prosperity through frictionless financial value exchange.Â
The company is concentrating its efforts on leveling the playing field for entrepreneurs and private investors.
Circle is the major operator of USDC, the fastest growing, regulated dollar digital currency, and the operator of SeedInvest, a leading startup funding platform in the United States. In addition to delivering internet-based payments and financial infrastructure to businesses of all kinds.
SeedInvest’s network of over 500,000 investors and substantial experience with compliant internet fund formation will be available to Circle Ventures portfolio firms.
Circle’s CFO, Jeremy Fox-Geen, said, “Since our inception, Circle has envisioned how to help scale the greater blockchain and crypto ecosystem.”
He further added, “Circle Ventures is another way to contribute, and we’re excited to support our industry’s innovators and entrepreneurs and identify compelling early-stage companies, technologies, projects, and protocols to help realize our mission.”
The firm has made an initial investment and is now looking to the blockchain ecosystem’s community of entrepreneurs, developers, and innovators for help in identifying more deployment opportunities.
Earlier this year, Circle announced plans to go public via a reverse merger with Concord Acquisition Corp., a publicly traded special purpose acquisition firm (SPAC). Circle is valued at $4.5 billion in the deal, which is anticipated to close by the end of the year.
Also Read: USDC’s Circle Launches Euro-Backed Stablecoin ‘EUROC’
