Lots of men and women remember the heritage of John Rockefeller as a person which has just taken a backseat in Western history because the role it performed in what’s referred to as the “roaring 20s.“
“We wanted to partner with this team that has been making investments and actually helping to architect a number of different crypto economies and crypto token-based projects” Said David Pakman, a partner at Venrock.
Cnd seemingly has a similar mindset, together with co-founder Jake Brukhman telling Fortune magazine he needs a partnership which assists “mentor, advice, and support teams in the space.” Venrock, a venture capital company controlled by the Rockefeller family, will be creating trades in ICOs and startups operating in the blockchain along with cryptocurrency spaces.
It is essential to be aware that the firm does not intend to put any cash into Bitcoin or other comparable cryptocurrencies, but it may help fund the introduction of tokens via its investment in certain ICOs. Partnering with CoinFund, a cryptocurrency investment company, the business intends to offer to finance to promising entrepreneurs who want to come up with blockchain-based jobs.
Normally, businesses which fund any job that’s to do with cryptocurrency or even blockchain desire a quiet street to gain. This is not necessarily true for Venrock, based on Pakman. But it seems that his family is still alive and kicking via a venture capital company–Venrock–that’s currently supported to get aspirations from the cryptocurrency along with blockchain spaces.
“There are a lot of crypto traders in the market. There are a lot of cryptocurrency hedge funds. This is different. In fact, to us, it looks a little bit more like venture capital,” he explained.
Venrock and CoinFund got familiar with each other when they settled together in YouNow, a live-streaming platform which has been among the very first ventures to start utilizing cryptocurrencies.
This is compared to George Soros’ hedge fund, that has only recently received acceptance to start trading cryptocurrencies. This movement, combined with Venrock’s, may provide the room with a more pronounced sense of legitimacy.
That is a whole 180 since the guy himself said that cryptocurrencies can’t be regarded as real currencies due to their explosive nature.