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Nasdaq Wants to Invest in More Blockchain Startups
Exchange operator Nasdaq is looking to invest in blockchain startups as part of a new venture initiative.
By Stan Higgins
Updated Sep 11, 2021, 1:15 p.m. Published Apr 19, 2017, 6:25 p.m.
Exchange operator Nasdaq is looking to invest in blockchain startups as part of a new venture initiative.
Nasdaq Ventures, announced today, has set its sight on investing in companies that work with blockchain, as well as firms focused on artificial intelligence, next-generation data analysis and machine learning. The firm will invest as much as $10m in relevant startups, focusing on both seed-stage and late-stage placements.
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The effort is perhaps a natural extension of the exchange operator's work in the blockchain space. In mid-2015, Nasdaq partnered with blockchain startup Chain in an effort that saw the two jointly develop a distributed ledger market focused on pre-IPO offerings.
Adena Friedman, president and CEO of Nasdaq, said in a statement:
"With the launch of our new venture investment program, we are reinforcing our focus on driving growth and innovation by evaluating, distributing, licensing and integrating disruptive technologies for the long-term benefit of our global clients."
The operator has been testing blockchain elsewhere as well.
In February 2016, Nasdaq revealed it was testing a blockchain e-voting prototype with Estonia's sole securities exchange. Further, in January, Nasdaq released a report outlining that, in its view, the trial "successfully demonstrated" why it believes blockchain use cases will extend beyond transaction settlement.
Image Credit: Sean Pavone / Shutterstock.com
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