Draper Goren Holm, a blockchain and Fintech venture firm, announced on Tuesday the launch and principal close of Fund 1, which is the venture’s first traditional venture fund of $25 million where Seed and Series A investments will take precedent in promising fintech and blockchain startups.
According to Draper Goren Holm, Fund 1’s investment strategy is a continuation of the venture studio’s successful blueprint of being the first check into novel early-stage projects, to which they can now double and triple-down, and provide further monetary and post-check value for new and existing portfolio companies.
“Although the geographical scope is international, with a local presence in Los Angeles, California, Draper Goren Holm will now focus more on Europe with a new office opening in Vienna, Austria in December of 2020. The new fund will start to invest immediately.”
While sharing more details about the Fund, Alon Goren, Founding Partner of Draper Goren Holm., stated:
“This first close was a sort of ‘friends and family’ round. Alongside Tim Draper and other individual friends investing in us again, other blockchain funds like Blockchain Founders Fund and the Keiretsu Capital Blockchain Fund of Funds participated.”
Draper Goren Holm, a partnership between Tim Draper, Alon Goren, and Josef Holm, is a venture studio focused on accelerating and incubating early-stage blockchain and fintech startups, while simultaneously producing leading blockchain and cryptocurrency events, Security Token Summit and LA Blockchain Summit. While speaking about the venture’s expansion, Josef Holm, Founding Partner at Draper Goren Holm, added,
“Europe is becoming a major hub for FinTech, and more specifically, blockchain innovation. It’s incredible to see how pro-crypto and blockchain European governments have become the last couple of years as their favourable regulations have attracted a flock of talented and diverse entrepreneurs building incredible projects across Vienna, Zug, and Berlin, to name a few. Fund 1 will capture this ever-growing market and Draper Goren Holm will expand its value-add beyond our initial home borders of Los Angeles.”