Following the closure of a $22 million seed round backed by arguably the most influential crypto investor Roger Ver, Switzerland-based Pangea Blockchain Fund has made its debut on to the crypto scene.
Pangea made this announcement on Wednesday, 27th February wherein the company also mentioned that Copernicus Asset Management, a Swiss firm regulated by the country’s Financial Market Supervisory Authority is also another investor. Additionally, Copernicus is also reportedly acting as investment manager for the fund.
According to Pangea fund, it aims to focus on the “commercial and industrial applications” of blockchain technology for which it will invest in “transformative” blockchain start-ups globally thus providing them with an early-stage capital boost and other resources.
U.S.-based Blockchain Investment Advisory LLC is acting as sub-advisor for the fund and Blockchain Investment Advisory Sagl is its Swiss investment advisor. Pangea reportedly expects to cap its fundraising at $200 million.
According to the co-founder of Blockchain Investment Advisory Sagl, James Duplessie, he said that he firmly believes blockchain technology will “fundamentally alter the way society governs, transacts, collaborates, and brings new concepts to life.”
The co-founder of Blockchain Investment Advisory, Sagl further said, “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.”
According to Maggie Rokkum-Testi, chief investment officer of Copernicus Asset Management, he said that there are, “Endless use cases for a transparent, verifiable register of data transactions.”
Additionally, as per reports, a Swiss-based incubator known as Ticino Labs will also be launched by Blockchain Investment Advisory Sagl in the next few months.