Cherubic Venture Capital Initiates A 4.6 Million Dollar Investment In China

By December 2, 2015Bitcoin Business

American venture investment firm Cherubic Ventures has initiated a RMB 30 million fund which shall invest in digital currency and blockchain innovation startups . This will promote the development of an industry that is currently stalling.

Cherubic Ventures partnered with Huaxue, from Greater China , and will focus on internet financial innovation, especially on blockchain application in China.

Some of the projects will directly invest in digital currency considering its characteristics. Besides this, the fund will also supply follow up support by providing a business incubator, venture consultant, investment docking service at middle and later stage, etc.

In China, the development of digital currency and blockchain technology are still at early stages. The industry has not much support, not to mention its serious talent shortage and outflow. Though the industry started early in China, it has fallen behind the global development pace. Cherubic Ventures logo We have reached out to Simon Dixon, CEO of BnkToTheFuture.com and Fund Manager for Bitcoin CT r: 8 Capital, regarding what this means for the sector’s future in China: “China has been very active investing and speculating on Bitcoin and in the Bitcoin mining industry. They are a nation of investors, savers and speculators. The venture capital market for Bitcoin and Blockchain has lagged the US and Europe as has historically been the case with other technology startups. However, Internet Finance and FinTech are really starting to grow in China and they are perfectly positioned to build a buyoant startup and early stage Blockchain ecosystem. There are large exchanges and mining operations in China, but at BnkToTheFuture.com we have seen more activity from Chinese investors than startups seeking funding on our online investment platform in this sector. With such a culture of speculative investing I think this trend could change in 2016 and would expect to see […]

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