Chinese venture capital giant Node Capital has recently announced that it will be having an American branch, amply supplied with 200,000 Ethereum for funding blockchain startups.
According to sources, the news was announced by Node Capital on Wednesday, June 27, at the Silicon Valley Blockchain Week in San Jose, California.
The new office will be set up in San Jose, California, where the famous Silicon Valley is located. There, they will operate to look for and invest in promising blockchain startups. No definite timeline was mentioned.
This is an entirely new setup for the firm, but it is definitely something which it could profit greatly from. Silicon Valley is known as one of the frontrunners in terms of technology, and Node Capital will indeed find many promising startups in the area; they might even find or create the next unicorn.
The List Goes On
Founded by Du Jun, Node Capital is considered to be one household name in the crypto world for investing in many startups which proved successful. The startups could be anything, so long as they are inclined to blockchain — news information, storage, technical development, application, and of course, digital asset transactions. Examples are Coldlar, Bocheninc, fengwo, Jinse Finance, Lianshang Technology, Yulian, Qukuai Leida, etc. The list could go on.
Furthermore, the venture capital firm has already supported over 20 cryptocurrency exchanges, including FCoin.
As of the time of writing, the 200,000-ETH initial budget is worth around $84 mln.