Konstantin Lomashuk and Vasiliy Shapovalov, two of the first investors in Ethereum, are reviving their interest in emerging technologies by “re-launching” an investment firm called cyber.Fund, which will use the founders’ capital of $100 million.
Cyber.Fund stated in a post to X on Thursday that “this new $100 million fund will serve current portfolio companies as well as service new projects and teams.”
Post counties, “Its mission is to accelerate the transition to an open cybernetic economy by backing entrepreneurs innovating in blockchain, AI, robotics and adjacent technologies.”
Vasiliy Shapovalov and Konstantin Lomashuk, the founders of Cyber.Fund, both claim to have made Ethereum investments in 2014.
When asked why now, Lomashuk explained that the drive is to advance these more recent technologies’ development. “We believe that we can accelerate the technologies by investing capital,” stated Lomashuk.Â
A representative for the $100 million investment firm stated via email that the founders of cyber.Funds are the only source of funding.
While new funds have continued to pour into cryptocurrency and blockchain businesses over the past year, the pace of investment has significantly decreased from the peak of the bull market.
In the meantime, interest in initiatives like ChatGPT has contributed to a surge in artificial intelligence investment.
“Our aim is to create a more open, efficient and sustainable economy,” cyber.Fund stated in the post.
“We believe that by working to accelerate the growth, adoption and eventual decentralization of the these technologies, the world will enter a new age of unprecedented prosperity.”
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