TMT Investments, an LSE listed company (AIM:TMT.L) has proposed to launch a new Crypto fund to invest in Blockchain startup. The joint initiative includes a group of American investors and will be supported by the Waves Platform. The TMT Crypto Fund will hold both crypto and fiat currencies and is reportedly planning an Initial Coin Offering in March 2018 to attract investment from the crypto world.
The TMT Crypto Fund portfolio expects to include around 40 projects, which will receive funding in late Seed and Series A stages. The fund will operate in accordance with the requirements of European regulators and the US securities laws and the Securities and Exchange Commission (SEC).
The Fund’s unique feature is its token that will be a security, which is designed to give the LPs an extra level of protection. Fully compliant with the SEC and other relevant regulatory requirements, tokens in the TMT Crypto Fund will allow LPs to subsequently receive tokens of the Fund’s portfolio companies, and may allow for much greater liquidity than proposed by a classic VC fund.
LPs’ other advantage will be ownership of not only tokens of the fund but ownership in the utility tokens of portfolio companies.
Waves Platform will become a partner for creation and distribution of TMT Crypto Fund tokens.
The team will consist of the key team members of TMT Investments Plc, including German Kaplun and Artyom Inyutin, who previously founded RBC, investors in Blockchain technology from Silicon Valley, and other recognised professionals including Julian Zegelman and Igor Shoifot.
A number of “Blockchain stars” from the US and Asia are also expected to join the Fund before launch.
The proposed team members are said to have collectively made over 60 investments (including such large and successful start-ups as Taxify, Wrike, Pipedrive, Scentbird, Backblaze and many others – over 10 of our projects grew to valuations over $100M each). The group has reportedly closed 20 exits in total. The team has made 8 blockchain investments, including Filecoin, which raised over $250M in its ICO in August 2017.
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