ConsenSys Pitch Deck Forecasts $100 Million Burn Rate for 2019

ConsenSys Pitch Deck Forecasts $100 Million Burn Rate for 2019

ConsenSys believes it can become a valuable company, provided it can get through the next year. As The Information first reported Monday, the company is seeking approximately $200 million in new investment. However, ConsenSys also projects $152 million in expenses in 2019, with $52 million in revenue, for an estimated $100 million cash burn, according to an investor deck obtained by CoinDesk.
ConsenSys Is Seeking $200 Million in New Funding: Report

ConsenSys Is Seeking $200 Million in New Funding: Report

ConsenSys is seeking a funding boost. Ethereum co-founder Joe Lubin’s Brooklyn-based venture studio is looking to raise $200 million from external investors, The Information reported Monday, at a valuation of $1 billion. The Information reports that ConsenSys is pitching Chinese investors with materials claiming the company aims to earn $50 million in revenue this year, primarily from contracts with enterprise and government clients.
Bain Capital and Ripple’s Xpring Invest in DeFi Founder’s ‘Scout Fund’

Bain Capital and Ripple’s Xpring Invest in DeFi Founder’s ‘Scout Fund’

One decentralized finance entrepreneur is on the hunt to back young companies using institutional cash. Robert Leshner is the founder of crypto money market Compound Finance. Separately from that, CoinDesk has learned, he now has a combined million dollars from Bain Capital Ventures and Ripple’s Xpring to write extremely early-stage checks to very new companies.
Coinbase, Paradigm Invest $15 Million in Startup Behind Disappearing Blockchain

Coinbase, Paradigm Invest $15 Million in Startup Behind Disappearing Blockchain

A blockchain that makes its blocks disappear has raised a fresh $15 million. Coda protocol, announced last May as the first project of the startup O(1) Labs, was initially backed by a seed equity round from MetaStable, Electric Capital, Polychain and AngelList co-founder Naval Ravikant. Now, investors Accomplice, Coinbase Ventures, Paradigm and General Catalyst are pumping an additional $15 million into the startup.
New $50 Million Fund Makes First Investment in Blockchain ID Startup

New $50 Million Fund Makes First Investment in Blockchain ID Startup

A new $50 million VC fund has been set up by Nasdaq-listed company Okta to invest in early-stage technology startups, including those working with blockchain. Okta, which provides identity management solutions, announced the Okta Ventures Fund Wednesday, adding that it has made its first investment in blockchain-based identity startup Trusted Key.
Apple, Amazon Alums Behind Sharding Startup Raise $18 Million

Apple, Amazon Alums Behind Sharding Startup Raise $18 Million

Bucking the 2019 trend of fundraising on equity, one startup has completed a substantial token presale. Harmony announced Tuesday that it raised $18 million from an array of investors that includes Hong Kong’s Lemniscap VC, Australia’s BCA Fund, Singapore’s UniValues Associates and Silicon Valley’s Consensus Capital, among others. Co-founder Nick White told CoinDesk that selling tokens was the only path that made sense, because “our long-term vision is to create a decentralized protocol.
Hedge Fund Billionaire Steven Cohen Is Getting into Crypto

Hedge Fund Billionaire Steven Cohen Is Getting into Crypto

Billionaire investor Steven Cohen, once dubbed the “Hedge Fund King,” has reportedly entered the crypto space. According to a Fortune article published July 12, Cohen has invested in cryptocurrency-focused hedge fund Autonomous Partners through his VC firm Cohen Private Ventures. Autonomous Partners was founded last December by Arianna Simpson, a venture capitalist with a history in the bitcoin space, including a time at bitcoin wallet startup BitGo.
US Regulators Need to Move Faster on Crypto, Consensus Panelists Say

US Regulators Need to Move Faster on Crypto, Consensus Panelists Say

Investors in the blockchain space have a message for U.S. regulators: clarity is needed. During CoinDesk’s Consensus 2018 conference on Monday, this idea was put forward by Future/Perfect Ventures founder and managing partner Jalak Jobanputra, ARK Invest CEO and chief investment officer Catherine Wood, and ConsenSys founding managing partner Kavita Gupta. Indeed, they all agreed that action in this area is needed – otherwise, innovative startups may look to friendlier shores. “The faster the SEC moves, the faster it will be for businesses to stay in the United States,” Gupta said.
Crypto Valley Association Taps VC Firm Lakestar as Strategic Partner

Crypto Valley Association Taps VC Firm Lakestar as Strategic Partner

Switzerland-based blockchain consortium, the Crypto Valley Association (CVA), has added European venture capital firm Lakestar as a strategic partner, the association revealed to CoinDesk this week. Lakestar has previously dabbled in blockchain, and in 2017 made investments in crypto wallet provider Blockchain and exchange startup ShapeShift.

Fintech Director Matthew Ledvina Explores How Blockchain is Changing the Face of Venture Capital

Fintech has been changing the global investment environment for several years, with new technologies such as cryptocurrencies and blockchain creating new and different opportunities for investors around the world.
Bitfury Secures $80M in Private Funding Round

Bitfury Secures $80M in Private Funding Round

Cryptocurrency mining firm Bitfury Group has closed a Series C, $80 million funding round led by EU-based Korelya Capital. The round also included crypto merchant bank Galaxy Digital, Lian and Jabre Group, Dentsu Inc., Armat Group and others. Bitfury is a diversified blockchain company known for its expertise in developing high-performance computing technologies, processing capabilities and advanced blockchain-based solutions for companies and governments, including the development of a blockchain-based land registry in Ukraine.
Blockchain KYC Startup Raises $1.6 Million in Seed Funding

Blockchain KYC Startup Raises $1.6 Million in Seed Funding

A blockchain startup focused on know-your-customer (KYC) solutions has raised $1.6 million in a new seed funding round. Norbloc's round was led by Marathon Venture Capital, a VC firm based in Greece that launched in March. Other participants in the round include Digital Currency Group, Inbox Capital, Back in Black, as well as the founding team of classifieds website Avito, the startup announced today.

Vaultoro Continues on Its VC Funding Road to Future Growth With Finlab AG

Vaultoro, a bitcoin-to-gold exchange, has secured funding from Finlab AG, a fintech company based in Frankfurt, Germany. Vaultoro co-founder Joshua Scigala stated that the funding from Finlab will allow them to reach their goals faster. The first upgrade the company plans to implement will be a real-time gold-backed debit card. The card will allow the customers of the firm to hold their allocated gold — stored in a high-security Swiss bullion vault — while they can easily spend the funds anywhere Visa or Mastercard is accepted.
Blockchain History? IBM Ventures Is Close to Making Its First Industry Investment

Blockchain History? IBM Ventures Is Close to Making Its First Industry Investment

The venture arm of one of the most recognizable names in the tech industry hasn't yet put its money where its mouth is on blockchain – but that may be about to change. While global tech giant IBM has so far focused mostly on investing employee time and energy into the emerging technology, it's only just now gearing up to take an equity stake in an industry startup. In what will no doubt be taken as a sign of the blockchain industry's maturity, for IBM Ventures, investing cash is finally becoming more attractive.

An Interview With Kavita Gupta, ConsenSys’s Pick to Oversee Its New $50M Venture Fund

ConsenSys, an Ethereum production studio based in Brooklyn, NY, is launching a $50 million venture arm, and it has picked Kavita Gupta to run it. Gupta’s job will be to oversee the new venture and help structure deals with the startups. It is not uncommon for companies with investment capital to form their own investment arm. For the most part, the goal is to fund startups that could drive value for the parent company down the line.