Coinbase, the world’s largest exchange just announced Coinbase Ventures, a venture fund to invest in early stage startups. The company has set aside $15 Million to be invested in new startups. The company is looking to invest in startups what ‘Align with their values.’
The company’s seed-stage investment will help Crypto and Blockchain companies off the ground. The company has also not ruled out investing in competitors.Ad
In an interview with CNBC, Asiff Hirji, Chief Operating Officer of Coinbase said they’ll be investing in companies that’ll grow to become great businesses and not into tokens. The company has consciously taken this step to avoid any conflict of interest.
Coinbase has been one of the fastest growing companies not just in the Blockchain industry, but also in whole of Silicon Valley. In fact, a problem Coinbase is facing now is that too many investors want to invest in the company. But with the profits they made, it is reported that Coinbase will go straight to an IPO instead of another series of funding in the near future.