FinTech investor Science Inc pulls in $12m for venture fund through ICO

FinTech investor Science Inc has pulled in more than $12m towards its venture fund through an initial coin offering.

The vehicle was hard capped at $100m, with $12.2m in commitments from 389 investors, according to a filing with the SEC.

The California-based firm is led by Mike Jones, Peter Pham, Gregory Gilman and Tom Dare, and invests in FinTech, blockchain, gaming and mobile media.

The vehicle is one of many strategies run by Science, which also includes Science Incubator I, II, Science Ventures, Science Block Advisors and Science Grow.

It currently boasts a FinTech portfolio of three businesses, including vehicle buying app CarBlip, consumer spending app Earny and wealth management platform Wealthfront.

The ICO is the latest in a recent string from a number of FinTech companies. Just last week FinTech Global reported that cryptocurrency platform Breadwallet had raised $30m through an ICO months after a funding round.

A day before that it was also reported that cryptocurrency lending platform Etherecash had raised up to $40m through an ICO in which 46,000 investors contributed.

Copyright © 2017 FinTech Global

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