Published On: Sat, Feb 25th, 2017

Brock Pierce: First-Ever VC Fund ICO Will ‘Disrupt Industry’

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Brock Pierce of Blockchain Capital LLC is to become the first venture capital fund to issue its own digital tokens.
Pierce: ‘This Will Completely Disrupt VC’
The Bitcoin Foundation director’s Blockchain VC fund will issue tokens as part of a $50 million USD fundraising round, which will also include convention investments.
“We think this is going to change the game, this is going to completely disrupt the VC industry,” Pierce said quoted by Bloomberg.

Blockchain Capital got off the ground in 2013 and has since contributed $40 million for 42 startups. At its launch, it was the first to accept Bitcoin for capital investment.
No VC fund has yet raised investments via an initial coin offering (ICO) such as this, and Pierce is excited about its potential, describing the model as “the future of venture capital.” He added:
We’ll be the first in the world to do this. We want to democratize venture capital.
Bogart Flees Needham to Blockchain Sector
Blockchain Capital also hired Needham now ex-analyst Spencer Bogart last week in a move which will see him become both the fund’s managing director and head of research.

Bogart, the only …

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