Czech Company Gives Israeli Blockchain Projects $100M
An investment bank Benson Oak that at the present has over $5 billion under control, declared that it would adjust an asset that would stress particularly on Israel’s rapidly developing technology marketplace, which has received the nickname of the Silicon Wadi.
The growth fund, popular as Benson Oak Ventures, has previously put aside $25 million and undertook to develop to $100 million in the future. This financial means will be utilized to invest in prospective ventures, especially in the blockchain industry.
Robert Cohen, managing partner mentioned: “I believe that there are great entrepreneurs in Israel who are leading the platforms of the future, with creating and disruptive use of blockchain technologies. I moved to Israel six years ago, and with a passion to build companies, I have established Benson Oak Ventures as a new platform to provide financial and operational capital to the best entrepreneurs in Israel and around the world.”
Benson Oak has a attainment of investing in technologies that keep large number of pledges. Its first fund in this industry involved a contribution for the widely-known internet cybersecurity company AVG.
Once before it went social and included on the New York Stock Exchange, its value raised to $1 billion, giving Benson Oak a back on investment of 100 times, or 10,000%.
Currently, making and investment in Israeli blockchain firms might be a optimistic development prospect, as the business goes on to expand in the country so rapidly that even political communities in the country are advertising its potential for publicity of governance.
Even Benjamin Netanyah, the country’s prime minister, hopes that Bitcoin (or, through logical conclusion other blockchain projects) may have the capacity to modify or even destroy usual banking systems.
The country has the developed infrastructure to create meaningful blockchain programs. With Benson Oak’s new fund, some smaller startups may even have the capital for it.