Ethereum Being Used For Investment Fund Capitalisation
There is an intention to leverage the ethereum ecosystem through a new venture by one of Canada’s largest investment funds.
Canadian investment group OMERS recently has organized Ethereum Capital entity, with $50 million and preparing for a takeover procedure. The company will invest the funds in both ethereum and blockchain, when the funding will be completed on 16 February.
According to firm, the main purpose is to become “the central business and investment hub for the ethereum ecosystem.” The company will also gain controlling stakes in companies using ethereum-based tokens.
In order to achieve its funding goal, the company explained it would sell 2 million subscription receipts with $2.50 cost for each.
The new firm’s advisors include both traditional investors and representatives from blockchain startups. The officer of Ethereum Capital’s board will be Liam Horne, a member of ethereum creator Vitalik Buterin’s L4 Ventures.