Yeoman’s Growth Capital Fund Seeks $200 Million To Invest In Crypto Projects

2018-12-11 20:18

Yeoman’s Growth Capital Fund Seeks $200 Million To Invest In Crypto Projects

The cryptocurrency bear market has been very hard for the whole market. It affected users and companies from all over the world. Cryptocurrencies have lost a important part of their value and the bear market might not yet be ended. Despite this, Johnston has launched the Yeoman’s Growth Capital (YGC) fund. The main intention is to raise $200 million and help projects that have already functioning software.

During a conversation with CoinDesk, he mentioned that this is the perfect time to launch this firm. With this fund, it might be possible to help firms in the crypto and blockchain space and bring them into mass adoption by consumers. Yeoman’s Capital has already committed an undisclosed amount of funds to the fund and is currently trying to attract new investors.

Henry Liu, former growth strategy at Facebook has joined Yeoman’s Capital back in January. About this decision, he commented:

“It’s a good time to launch this because we are focused on growth and adoption and in these bear market conditions people see the very pressing need for traction – something we have been preaching for the past couple of years.”

During this year, the market has been bearish in many different areas. Managers that had investment funds have seen their assets plummet around 70 to 80 percent, if not more. Furthermore, one of the most popular blockchain incubators, ConsenSys, had to reduce the funding and focus just on a few projects.

Johnston has also said that what they do at YGC is similar to what private equity or traditional growth capital firms do. At the same time, they focus on projects that are already live and that have a mainnet but need help with growth and adoption.

Johnston has also been investing in other projects in the past such as tZERO, Polychain and Factom. Now he wants to fill the gap in the markets between venture capital and private equity. Additionally, he said that they want to help grow companies and protocols for the next years employing creative technics.

He went on saying that they do not do any kind of short-term speculation and he cannot predict which is going to be the price of the most valuable virtual currencies in the market.

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