Blockchain technology firm Fineqia International Inc. announced on Wednesday it has participated in the $21 million IDEO CoLab Ventures fund, which notably invests in early-stage blockchain and cryptocurrency startups.
According to Fineqia, the fund is backed by global design company IDEO, which is known for designs such as Apple’s first computer mouse and for focusing on various challenges across business, social, and government sectors, Avanta Ventures (the venture capital arm of CSAA Insurance Group), Korea’s GS Group, and other institutional investors, as well as executives from IDEO, Coinbase, Twitter and Fortress, among those from other tech companies and financial institutions. While sharing more details about the fund, Ian Lee, Managing Director of IDEO CoLab Ventures, stated:
“Our deep capabilities in design, product development, and blockchain technology enable us to attract world-class entrepreneurs and start-ups from around the world. This has led to unparalleled investment opportunities and the chance to collaborate with some of the world’s best founders and companies on the development of this important technology and the businesses that are being built with it.”
The investment was made through Fineqia’s subsidiary, Fineqia Investment Ltd.