Golden Gate launches dedicated crypto/blockchain venture firm LuneX

Singapore-based Golden Gate has launched LuneX Ventures, a cryptocurrency and blockchain-focused investment vehicle.

The new vehicle will be the first Southeast Asian dedicated cryptocurrency and blockchain-focused fund with a traditional VC backing. It will back global companies which are developing new services that can grow new crypto ecosystem. According to a report by Reuters, the new fund will have a capital pool of $10m.

Golden Gate has been active in the cryptocurrency and blockchain market, with its portfolio companies raising a combined $35m through its ICOs, the firm said.

LuneX founding partner Kenrick Drijkoningen said, “Traditional investors currently struggle to access this new asset class: there are legal, custodian, banking, tax and other operating obstacles to overcome.

“LuneX Ventures has been been built from the ground up to address all these. We have gone the extra mile to make sure the fund is fully compliant while providing easy access to accredited investors. Our mandate allows us to invest in tokens of promising startups. For us, it’s important that our interests are aligned with those of founders. In the end this is how we all benefit.”

Earlier in the year, it was reported that Golden Gate Ventures is looking to raise $100m for its third venture capital fund. The fund will back e-commerce, payments and mobile app companies and is expected to close by the end of the year.

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