Venture capital firms cross their paths with blockchain technology and cryptocurrencies and try to conquer the space.
Agenzia Spaziale Italiana (ASI), the Italian space agency, is launching a Venture capital fund with resources of 80 million of euros (see here a previous post by BeBeez). Private investors will contribute with at least 30% of such amount. The firm will invest in Italian companies operating in the field of space economy. ASI’s chairman Roberto Battiston said that ASI will be a cornerstone investor for the fund.
YOOmahn, a venture capital that raises its resources in cryptocurrencies, will lauch its ICO on 1 September 2018 (see here a previous post by BeBeez). The firm’s investors will decide in which project to invest through a blockchain technology. The Ico’s subscribers will get stakes of the fund in the form of YOO token. The founders of YOOmahn are ceo Kim Berger Christensen; cfoLorenzo Torquati; and general manager Federico Ciccone. Institutional and retail investors can invest in the firm and sell their token at any time on exchange platforms Forkdelta, Bittrex, and Binance. The firm will make available for the IPO 94% of 100 million of YOO token worth 1 US dollar, while 5% of the tokens will belong to YOOmahn team and 1% to developers and advisors. The firm will destroy the unsold tokens and aims to raise at least 2.5 million. The owners of YOO token will receive dividends since the end of the third solar quarter after the conclusion of the Ico. The payout schedule is the following: 50% of the yield will go back to tokens owners in Ethereum, while 40% of the performance will support YOOmahn for increasing the fund’s assets under management and the subsequent intrinsic value of each YOO token. The firm will use the remaining 10% will finance the operating costs of YOOmahn.
Poste Italiane signed a partnership with Eppela and Mastercard and launched PostepayCrowd 2.0, a reward crowdfunding platform for supporting fintech and digital payments projects (see here a previous post by BeBeez). The businesses that will achieve their fundraising targets in 40 days through reward crowdfunding will receive a co-financing of up to 5,000 euros from mentors Poste Italiane and Mastercard that may give further 15,000 in the form of communication campaigns to some project.
