Take It EOSIO

Block.one's EOS VC Investing US$1B In Blockchain Companies

By Glen Watson | Block.one is the publisher of the EOSIO blockchain software protocol and seller of the EOS Token, a top-five cryptocurrency by market cap at approximately US$4 billion. The Cayman organization employs over 200 people globally, with offices in Hong Kong, California, and Virginia.

In December 2017, Block.one committed to investing over US$1 billion in the EOSIO platform through the EOS VC venture arm that has announced deployment of capital through partnerships, including with: Derek Rundell of Eric Schmidt’s TomorrowVentures, Michael Novogratz’s Galaxy Digital, Finlab AG (ETR:A7A), Michael Cao’s EOS Global, and City of London-based SVK Crypto.

About EOS VC

The EOS VC program offers developers and entrepreneurs the funding they need to create community-driven businesses leveraging EOSIO, which launched in May 2017. It provides support through venture capital partnership funds that primarily aim to achieve sustained utilization of the EOSIO ecosystem by investing in a concentrated and diversified portfolio of blockchain-focused companies building on the EOSIO software.

EOS VC is targeting game-changing blockchain-based products and entrepreneurs across the globe. It has so far allocated approximately US$700 million through VC partnerships in the United States, Europe and Asia.

“Our partnerships and investment efforts through EOS VC are critical in driving adoption and innovation in the EOSIO ecosystem. We are committed to supporting companies that want to build businesses and DAPPs on the platform,” says Block.one Group President Rob Jesudason, the former CFO of Commonwealth Bank who joined Block.one this year.

The EOS VC initiative is also dedicated to fostering a global network of individuals from a number of disciplines through regular developer community engagement events. This includes participation in a global series of Block.one hackathons that aim to discover and encourage the most innovative EOSIO projects. The hackathon series kicked off in Hong Kong June 9-10, followed by events in Sydney, London and elsewhere.

Former Jefferies Asia CEO Mike Alexander joined this summer as CEO of the EOS VC venture capital arm. Based in Hong Kong, Alexander will serve as a member of the Block.one Executive Committee. He is responsible for managing direct venture investments and EOS VC partnerships, with a focus on sourcing and investing in projects developing on the EOSIO ecosystem. Block.one’s CEO is Brendan Blumer, and the CTO is Daniel Larimer.

“Blockchain will have a transformative impact on most industries in the coming years and will redefine operating models by streamlining businesses, while also reducing cost and risk,” says Jesudason. “Block.one’s technological innovation enables fast, low-cost, and scalable blockchain performance and is laying the groundwork for mass adoption of these new technologies.”

Alexander has extensive experience in investment banking and is well-respected in the financial services industry in Asia.

“Block.one is shaping the next generation of technology and the internet,” says Alexander. “The vision of its Founders has resulted in it being one of the fastest-growing organizations in the world and I am excited to be joining. The company’s unique position as the publisher of the EOSIO open-source code means that it is poised to lead the way in investments related to the burgeoning platform.”
block.one eos.io