Asset Manager Investcorp To Raise Money for Blockchain Startups

by in Blockchain News

Investcorp blockchain news

Global investment manager Investcorp, specialized in alternative investments, has started raising money for a new fund to invest in blockchain technology development startups.

Related: The CB of Romania intends to acquire a blockchain platform

The Fund will be led by the company's Abu Dhabi office. It will invest in early-stage firms building various products within the blockchain environment like infrastructure, DeFi (decentralized finance), and data analytics applications.

eLydian Lion will be the first institutional blockchain-focused fund in the Gulf Cooperation Council (GCC), a political and economic union of Arab states. According to a blog post published by Investcorp, the fund will be deployed globally and will allow investors to get early exposure to the blockchain environment. The company mentioned that blockchain is at the front line of the digital evolution of the economy.

The Head of Private Equity Technology and Managing Director at Investcorp, Gilbert Kamieniecky said that the company believes blockchain will change every aspect of the economy as the internet in the 2000s. He stated the blockchain's potential to disrupt current markets and build new ones along with the significant rise of the NFT market which surpassed $40 billion.