At the seventh annual LA Blockchain Summit, venture studio Draper Goren Holm announced the launch and principal close of their $25 million Fund 1. This marks the studio’s first traditional venture fund, dedicated to Seed and Series A investments in fintech and blockchain startups worldwide, with an emphasis on early-stage innovation.
Key Highlights of Draper Goren Holm’s Fund 1
1. Investment Strategy Focused on Early-Stage Startups
The strategy behind Fund 1 builds on Draper Goren Holm’s proven track record of supporting early-stage projects. By making the first investment checks, the venture studio aims to double and triple-down on promising companies, offering both financial and operational support to accelerate growth.
2. Global Scope with a European Emphasis
While Draper Goren Holm has its roots in Los Angeles, the fund will focus heavily on the European blockchain and fintech ecosystem. A new office is set to open in Vienna, Austria, in December 2020, targeting innovation hubs in cities like Vienna, Zug, and Berlin.
3. Industry-Leading Partnerships
The fund’s initial close saw participation from prominent names, including:
- Tim Draper, a well-known venture capitalist and blockchain advocate.
- Blockchain Founders Fund
- Keiretsu Capital Blockchain Fund of Funds
This partnership structure enhances Draper Goren Holm’s access to talent, resources, and deal flow.
Draper Goren Holm’s Legacy in Blockchain and DeFi
Draper Goren Holm is already well-recognized in the blockchain ecosystem, managing:
- 18 portfolio companies specializing in areas like decentralized finance (DeFi) and digital securities.
- The production of the world’s largest blockchain conference, which has helped funnel top blockchain talent and projects into their pipeline.
Tim Draper’s Endorsement
Tim Draper, a Special Limited Partner in Fund 1, praised the team’s efforts:
“Our premier blockchain conference and accelerator has proven to funnel some of the industry’s top talent and entrepreneurs. This new fund will allow us to double and even triple-down on our favorite projects.”
The Need for a $25 Million Blockchain Fund
1. Blockchain’s Rapid Growth
The blockchain industry is evolving rapidly, particularly in decentralized finance (DeFi) and security tokens. Fund 1 positions Draper Goren Holm to capitalize on these trends by investing in innovative solutions at the earliest stages.
2. European Blockchain Hub
Europe has emerged as a leading hub for fintech and blockchain, with supportive regulations attracting diverse entrepreneurs. Josef Holm, Founding Partner at Draper Goren Holm, commented:
“Europe is becoming a major hub for FinTech, and more specifically, blockchain innovation. Fund 1 will capture this ever-growing market.”
3. Hands-On Support for Entrepreneurs
Matthew Le Merle, Managing Partner of Keiretsu Capital, highlighted the importance of Draper Goren Holm’s involvement:
“Every entrepreneur needs a group of talented investors, advisors, and coaches beside them. In the blockchain space, that becomes even more important.”
What Fund 1 Means for the Blockchain Ecosystem
1. Bridging Global Blockchain Communities
By expanding its operations to Europe, Draper Goren Holm is creating a bridge between Silicon Valley’s innovation ecosystem and Europe’s blockchain-friendly environment.
2. Supporting Early-Stage Innovators
Fund 1 ensures that fintech and blockchain startups with global aspirations receive the necessary support from day one, including mentorship, resources, and capital investment.
3. Strengthening the Venture Studio Model
As part of the Draper Venture Network, Fund 1 adds another layer of capability to the venture studio’s model, enabling it to scale successful startups and foster collaboration across international markets.
Looking Ahead
Draper Goren Holm’s Fund 1 is poised to make a significant impact on the blockchain industry. By targeting high-potential early-stage startups, especially in Europe, the fund is set to accelerate the growth of cutting-edge projects in fintech and blockchain.
As Draper Goren Holm continues to expand its reach and influence, Fund 1 marks an exciting milestone in its mission to drive innovation in decentralized technologies.
To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.
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