The crypto markets may be getting a new investor. On Monday, William Mougayar made the announcement that he will be launching a brand new investment firm, named Blockchain Technology Ventures. The firm is looking to invest in virtual currencies and blockchain startups.
William Mougayar to Launch an Investment Firm
If you’re a blockchain startup looking for an investor, this might be your opportunity. However, there is a catch. According to William Mougayar, unless the blockchain project or cryptocurrency demonstrates a potential for appreciation, the Blockchain Technology Ventures firm will not invest. Furthermore, Mougayar stated Monday that his firm will only be investing in companies who are doing “interesting” work in the crypto and blockchain space.
Mougayar also made it clear that his firm is not a hedge fund. In fact, the venture capitalist and author said the firm is a “venture capital-style fund.” He also said that Blockchain Technology Ventures is looking to have an impact on the market in the long-run. Mougayar appears to not be wasting any time, either. The firm is already looking for startups willing to pitch their projects and tokens. It won’t be easy pitching to Mougayar, however. He has stated that he is mostly interested in early-stage projects, adding that he will be using his previous knowledge to figure out whether or not to grant funding to a company.
Reportedly, Blockchain Technology Ventures wants to launch its first fund in July of this year. Whether this happens or not will depend entirely on the approval from the Financial Market Supervisory Authority in Switzerland. It will be interesting to see if this actually happens, considering Mougayar has high standards for the companies applying for funding. On Monday, Mougayar added that companies who apply will have to have a good, competent team. Further, Mougayar wants proof that the company can actually execute its ideas.
Do you think the investment firm launched by Mr. William Mougayar will prove to be beneficial in the long-run? Or are the standards too high?
Featured Image: Twitter