Pangea Blockchain Fund, a Lugano, Switzerland-based firm announced the closing of its seed round and debuted its inaugural International fund focused on transformative blockchain solutions with $22 million.
For people unfamiliar with the term, Seed capital is the initial capital used when starting a business, often coming from the founders’ personal assets, friends or family, for covering initial operating expenses and attracting venture capitalists.
The firm was backed by crypto investor Roger Ver as well as from a distinguished group of investors including Copernicus Asset Management SA, a Lugano-based financial services group.
“Blockchain technology has the potential to change the nature of the systems that lie beneath the things we do every day and could be the greatest driver of value creation in our lifetime. […] Our team’s investment thesis is based on the profoundly important reality that blockchain will fundamentally alter the way society collaborates, transacts, governs and brings new concepts to life.”
—Blockchain Investment Advisory Sagl co-founder James Duplessie.
Elaborating on the chosen name ‘Pangea’, Duplessie said that the reason for this name was that Pangea means ‘whole earth’ which highlighted their intention to use blockchain as a means to transform the whole world.
“This [blockchain] technology will touch and transform every industry, from energy and public utilities to retail and healthcare. Due to its unique investment strategy and diverse understanding of both traditional and non-traditional markets, the Advisory teams are uniquely equipped to understand and capitalize on an opportunity of this magnitude.”
—Maggie Rokkum-Testi, Chief Investment Officer of Copernicus
The Swiss blockchain advisory has also planned to launch a blockchain incubator: Ticino Labs, in the coming months with aim to provide access to unique investment opportunities not yet available to other market participants.
Photo by Ciel Cheng on Unsplash