{"id":23343,"date":"2017-08-16T12:23:37","date_gmt":"2017-08-16T12:23:37","guid":{"rendered":"http:\/\/ci027cfe7770022697"},"modified":"2025-01-28T18:39:09","modified_gmt":"2025-01-28T18:39:09","slug":"blockstack-partners-vcs-launch-25-million-blockstack-signature-fund","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/blockstack-partners-vcs-launch-25-million-blockstack-signature-fund","title":{"rendered":"Blockstack Partners with VCs to Launch $25 Million Blockstack Signature Fund"},"content":{"rendered":"
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New York-based decentralized internet and developer platform Blockstack<\/a> has partnered with a number of venture capital groups to launch the $25 million Blockstack Signature fund.<\/p>\n

The Blockstack Signature fund is backed by Lux, OpenOcean, VersionOne, RisingTide, and Compound, and funding will go toward apps being built in the Blockstack ecosystem. <\/p>\n

Patrick Stanley, growth partner at Blockstack, explained to Bitcoin Magazine<\/em> that \u201cBlockstack is not launching the VC fund but facilitating.\u201d That is, the company\u2019s role in the fund has been to gather the venture capital groups, attract the developers and facilitate the partnerships that will result in quality app development on the Blockstack platform.<\/p>\n

According to Blockstack, the VC fund will dedicated to \u201crapidly accelerating startups building decentralized applications on the platform, and tools for developers to bootstrap their apps, with tokens on the Blockstack network \u2014 just like you see with Ethereum.\u201d<\/p>\n

Muneeb Ali, co-founder at Blockstack, told Bitcoin Magazine<\/em>: \u201cWe are at a stage where some of the developers are incredibly excited about building apps and usually get in touch with us. If developers get in touch with us with an app that they are excited about, this is one funding channel we can point them to.\u201d<\/p>\n

Ali added: \u201cThe VCs involved in the fund will take a look at that application and make a independent decision to fund that company or now. Our intention here is to bring together sophisticated investors, people who have been thinking a lot about decentralization and can do their due diligence.\u201d<\/p>\n

VC investing is a type of private equity, a form of financing that is provided by firms or funds to small, early-stage, emerging firms that are deemed to have high-growth potential, or which have demonstrated high growth in terms of number of employees, annual revenue or both.<\/p>\n

Ali explains: \u201cIf you look at this space in general we feel that there are a lot of low quality apps which are raising an insane amount of capital from token sales, for example. We want to bring some quality and sanity to the picture. We feel that VCs can still have a seat at the table \u2026 we want to open up that channel as well.\u201d<\/p>\n

Blockstack was formerly known as Onename and passed through its young company status in the summer of 2014 as a startup looking to streamline bitcoin transactions.<\/p>\n

Watch the video here<\/a>.<\/p>\n

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New York-based decentralized internet and developer platform Blockstack has partnered with a number of venture capital groups to launch the $25 million Blockstack Signature fund. The Blockstack Signature fund is backed by Lux, OpenOcean, VersionOne, RisingTide, and Compound, and funding will go toward apps being built in the Blockstack ecosystem. Patrick Stanley, growth partner at […]<\/p>\n","protected":false},"author":3499,"featured_media":23053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1473,3196,245,695,458],"class_list":{"0":"post-23343","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-apps","9":"tag-blockstack","10":"tag-developers","11":"tag-funding","12":"tag-venture-capital"},"author_data":{"id":3499,"name":"Tanzeel Akhtar","nicename":"tanzeel-akhtar","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/tanzeel-akhtar-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/blockstack-partners-with-vcs-to-launch-25-million-blockstack-signature-fund.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/23343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3499"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=23343"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/23343\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/23053"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=23343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=23343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=23343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}