William Mugayar, a famous venture capitalist and The Business Blockchain author announced the creation of an investment fund. Its aim is to support support crypto and blockchain startups.
As CoinDesk reports, William Mugayar will head the new organization called JM3 Capital. It is created within the Blockchain Technology Ventures division. The new department will invest in blockstart-ups, individual tokens and publicly traded cryptocurrencies. As it follows from the words of Mugaya, each token project claiming investments should demonstrate a significant growth potential. The new project will select startups, which can propose by very interesting developments in this area, and then cooperate with the developers of the token-protocols. As Mugayar said, the new investment fund is going to invest in undervalued cryptocurrencies. He also noted that Blockchain Technology Ventures is not a hedge- fund. It is mostly venture capital fund with strategic view of market.
The company is planning to launch the first fund in July. At the moment it is expecting the final approval of FINMA - The Swiss Financial Market Supervisory Authority. Currently the submitted application is at the final stage. The fund itself will be regulated by the authorities after the launch.