A new Australian fund Apollo Capital is planning to concentrate on blockchain and cryptocurrency and spend $30 million for that purpose. It’s the first Australian foundation, which operates with digital money. Only people with more than 50000 australian dollars on their accounts have an opportunity to invest in the fund.
Domenic Carosa, one of the fathers of the organization (the other is Holger Arians), believes that such kind of funds is a product of its time. The establishment is indispensable for development and prosperity of blockchain technology.
But Apollo Capital is not the only fund, which deals with cryptocurrency and the blockchain technology in Australia. Managers of the NEM.io blockchain development fund are planning to invest $14 million for extension of cryptocurrency usage in the nation state. They also want to implement their own XEM blockchain platform for easier adoption of the technology.
At the same time many venture capital funds in Australia are sceptical about cryptocurrency and not ready to use the blockchain right now.