Investment firm Venrock (derived from “Venture” and “Rockefeller”), which focuses on investments in startups and early stage companies from IT sector, is entering the cryptocurrency market.
David Pakman, a partner at Venrock, told Fortune that his firm is paretnering with CoinFund, an investment group that focuses on cryptocurrencies.
“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,” Pakman said. “We will use the partnership to learn about really quality companies that are building important decentralized platforms.”
Venrock has reportedly $2.5 billion in assets under management. The Rockefellers are one of the richest families in the world with an estimated net worth of about $11 billion.
Earlier, Bloomberg reported that Soros Fund Management, a privately owned family office with nearly $26 billion in assets, is also planning to invest in cryptocurrencies.
