HUGE SNAPCHAT INVESTOR STARTING CRYPTOCURRENCY FUND | ALTCOINS. NEWS TODAY

This is just the tip of the iceberg for institutional money coming into cryptocurrency, bitcoin, and altcoins.

Snapchat’s Main Investor is Forming a Cryptocurrency Fund

from article: On May 18, Recode reported that it has discovered Lightspeed Venture Partners, the main investment firm which backed many successful technology companies like Snapchat operator Snap, is planning to establish a fund that is exclusive to the cryptocurrency market.

Three Options
Sources of Recode confirmed that the venture capital firm is actively investigating into various methods that could be utilized to invest in blockchain projects and focus on cryptocurrency investments. However, the plan is not finalized as of yet, primarily because the firm is still yet to decide the scope of investments.

Similar to Bitmain, the multi-billion dollar cryptocurrency mining equipment manufacturer, it could prioritize blockchain projects and emerging blockchain protocols or initial coin offerings (ICOs. It also could ease the burden on its partners and simply invest in major cryptocurrencies like bitcoin and ethereum, which is significantly easier than being an early-stage investor in ICOs as a venture capital firm.

Currently, the venture capital firm is exploring three possible strategies that could be used in the short-term to enter the cryptocurrency market. The first is an Andreessen Horowitz-like fund, which operates independently from the main technology-focused initiative of Lightspeed Venture and solely focuses on the cryptocurrency market.

The second strategy is investing directly in blockchain projects to be heavily involved in the cryptocurrency sector, and rebrand the image of Lightspeed Venture as a cryptocurrency investment firm. The third option the company is considering is to create a new company that will operate outside the umbrella of Lightspeed Venture with complete autonomy.

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HUGE SNAPCHAT INVESTOR STARTING CRYPTOCURRENCY FUND | ALTCOINS. NEWS TODAY

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