Blockchain technology fund Reflective Venture Partners has invested $6.3m in four separate startups and organisations.
The four investments are in SHOP, Resonate, Xpansiv, and Dekrypt Capital.
SHOP, which received $2m, is a distributed and decentralised commerce platform and tokenised data exchange. Its protocol enables businesses to operate their commerce platform to drive customer relationships and reward shoppers for sharing tokenised data to retailers on the system.
Reflective deployed $300,000 into Xpansiv which helps to extract and refine production data of commodities such as natural gas. Music streaming platform Resonate netted $1m from the firm.
Blockchain investment firm Dekrypt Capital bagged $3m from Reflective. Dekrypt looks to invest in privacy preserving protocols and early-stage ventures.
Reflective, which was formed through a strategic partnership with blockchain platform RChain, closed its debut vehicle with a capital pool of 100 million RHOC tokens, RChain’s native cryptocurrency.
The investment vehicle was raised to support the growth of RChain by investing and incubating solutions that can be deployed on the blockchain platform.
Reflective Venture Partners managing partner Greg Heuss said, “We are extremely excited about these commitments and look forward to developing an ongoing relationship with an innovative group of dApps.
“The path we are creating is turning the capitalization model for early-stage applications on its head. One of our goals has been to disrupt the traditional venture capital model and we feel we’re off to a great start.”
North America dominated the blockchain market last year, according to data by FinTech Global. The region picked up 77 per cent of the $1bn that was invested over 2017, with Asia being the next biggest market pulling in 16 per cent of the capital.
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