Ripple Inc. has made an investment valued at $25 million to Blockchain Capital Parallel IV, LP the first ever fund dedicated to blockchain development. Ripple made the investment in form of its native XRP tokens, as part of a $150 million blockchain fund managed by Blockchain Capital.
In a press statement, Ripple confirmed their participation in the fund saying that the contribution which was their first would certainly no be their last. The Fund which supports entrepreneurial ventures in the blockchain space, Ripple says will also provide an opportunity to identify new use cases for its XRP Ledger and Interledger Protocol.
Welcoming Ripple to Blockchain Capital Fund, Bart Stephens, co-founder and managing partner of the Fund said:
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“As pioneers in the blockchain sector, we have been on the frontlines and in the trenches with our portfolio companies, like Ripple, building a new crypto ecosystem […] Whether it’s using XRP, bitcoin or just the underlying blockchain technology, our goal is to find the best projects and give them the resources to be successful companies that deliver value to customers for the long term.”[/perfectpullquote]
Blockchain Capital currently manages a portfolio worth $250 which in blockchain businesses including Coinbase, Kraken, Circle, and Ripple.
As safe as an investment in Blockchain Technology
Betting on blockchain seems like a no-brainer, going by the current flurry of activities around the technology. Earlier this week Mariya Gabriel, European Commission’s Commissioner for Digital Economy made a bold assertion while he announced a monumental blockchain partnership between 22 European nations. He said that “in the future, all public services will use [Blockchain] technology.”
Another member of the Blockchain Capital fund, Coinbase has launched its own Investment fund which it says will focus on new cryptocurrency businesses.