Ripio raised $31M during private tokensale

Argentinian blockchain based start-up raised big money in a private tokensale
12 October 2017   1619

The Argentinean start-up Ripio attracted $ 31 million during the private sale of RCN tokens. This is reported by CoinDesk.

The founders of the project attract investments to create a network of Ripio Credit Network, which unites borrowers, creditors and guarantors. Borrowers and lenders interact through Ethereum-based RCN tokens, and the guarantor undertakes to provide sufficient volume of lending operations to predict return on investment, debt management in the borrower's country of residence and to receive money on the debt obligation in case of default.

During the pre-sale in Ripio, FBG Capital, Maple Ventures and Blacktower Capital invested. According to the developers, investors from all over the world showed interest in the project, including Russia, South Korea and Canada.

We are extremely excited, that our pre-sale campaign was supported by both leaders of the blockchain industry and individual investors from all over the world. Our goal is to widen financial inclusion by extending credit lending globally, and for implementing it we have to have supporters worldwide.
 

Sebastian Serrano
Co-founder and CEO, Ripio

The launch of Ripio Credit Network was announced in September this year. In January, the Argentine start-up, previously working under the name BitPagos, attracted $ 1.9 million in investment and get rebranded. Venture funds Huiyin Blockchain Venture, Boost VC, Digital Currency Group and Draper VC invested in the project.

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Pantera Capital to Intend to Raise $175M for Crypto Fund

Whether the firm can achieve its funding goal is still unclear
16 August 2018   201

Pantera Capital intends to raise up to $ 175 million for its third venture fund, focused on the blockchain and cryptocurrencies, which marks significant progress against the background of the company's other two funds: the assets of the first of them are $ 13 million, the second - $ 25 million. This is reported by TechCrunch.

As reported, company's partner Paul Veradittakit says the target amount is a “function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds. With more interesting later-stage investments [on our radar], too, we want to be flexible and able to move with the market.”

Whether the firm can achieve its funding goal is still unclear. According to documents recently sent to the US Securities and Exchange Commission (SEC), it has already managed to raise more than $ 71 million with the participation of 90 investors. Veradittakit calls this event "the closing of the first transaction".

One of the company's new funds, which opened last year, has a hedge fund structure and focuses exclusively on the ICO. The founder of the company Dan Morehead said earlier that Pantera takes part in the first stages of such campaigns, "basically getting a discount to the ICO price by getting in early, when it’s just a team and a white paper."

The second fund of the company is engaged in investing in bitcoin and has managed to serve a large number of investors during its existence. According to Morhed's calculations, the fund, launched 5 years ago, demonstrated a return of 10 136%.

The last fund Pantera invests in cryptocurrencies, which are already traded on the exchanges. It uses machine learning for algorithmic investment and takes into account the views of the company's management when making investment decisions.