“Draper Esprit” Venture Capital Firm Invests £18 Million In Cryptocurrency Business

Draper Esprit, a London-listed venture capital firm announced this morning about an investment in cryptocurrency business Ledger, which made its share price to rise.

Draper with its £18 million capital is the largest European venture capital funding round in a blockchain or cryptocurrency-focused business to date.

The Paris and San Francisco based Ledger was launched in 2014 and already it brings high profits. It opens blockchain-based “wallets” to keep safe the digital currencies, such as bitcoin, ethereum, ripple and litecoin.

“Blockchain, as evidenced by crypto assets, is a truly revolutionary technology. Security will be paramount to its success and we believe that Ledger has built the world’s best security platform to manage private keys for all blockchain and crypto asset applications,” said Draper Esprit’s chief executive Simon Cook.

The funding will be used, as the ledger said, to invest in research and development and expansion. FirstMark Capital, Cathay Innovation, and Korelya Capital also participated in the funding round, along with existing investors CapHorn Invest, GDTRE and Digital Currency Group.

The share price of Draper had risen more than 9.14 %.