April 26, 2018

Ripple Invests $25 Million XRP into Blockchain Capital Venture Fund

13 April 2018, 04:31 | Brandon Parsons

Ripple Invests $25M in Blockchain Capital

Ripple Price Technical Analysis XRP USD

Ripple, the blockchain-based payment network, has invested $25 million of its XRP cryptocurrency into Blockchain Capital Parallel IV, a fund that will invest in blockchain ventures.

Founded in 2013, Blockchain Capital is one of the earliest and most active investors in the blockchain industry and the crypto ecosystem.

With its largest fundraising round to date, Blockchain Capital now manages $250 million in assets with companies including the likes of Coinbase, Kraken, Circle, and notably Ripple, under its investment portfolio. The initial goal was to raise $125 million in Blockchain Capital IV LP, whereas the parallel fund was set to raise $25 million. The Fund which supports entrepreneurial ventures in the blockchain space, Ripple says will also provide an opportunity to identify new use cases for its XRP Ledger and Interledger Protocol.

The crypto-exclusive venture firm underlined that it would invest in innovative projects that employ blockchain technology in areas beyond payments.

Ripple believes in supporting the XRP Ledger and Interledger Protocol and will continue to look for opportunities to support entrepreneurs, companies and funds that share this vision. There are sectors like identity management and healthcare which can largely benefit from Blockchain.

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In a press statement, Ripple confirmed their participation in the fund saying that the contribution which was their first would certainly no be their last. "Whether we are using Bitcoin, XRP or any other Blockchain technology our aim is to find good projects and support them to become successful companies that will deliver value to different customers in the future".

"Blockchain Capital is the premiere fund for any project looking to get off the ground in the blockchain space".

Patrick Griffin, a vice president with the XRP team, noted that this "is the first fund that we've contributed to, and it won't be the last". "We plan to be major players in shaping the future generation of blockchain or crypto companies".

Ripple is also rumored to be partnering with Santander banking group to start an worldwide money transfer app which will be based on Ripple's xCurrent and the RippleNet platform.

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