Venture company Venrock Associates, based on the money of the Rockefeller family, has again stated its interest in crypto-cash start-ups. However, unlike most representatives of its sphere, the company does not intend to limit itself to digital tokens, but seeks to invest in shares. This was stated in an interview with Bloomberg partner Venrock David Pakman.
Pakman said that Venrock intends to adhere to a "more disciplined approach", while many hedge funds prefer speculating on the price of bitcoin and ICO. The company can easily invest in tokens, but in the focus of attention, according to Pakman, startups should be at an early stage of development, before they conduct tokenes. Venrock's partners have already invested in CoinFund, a venture company investing in tokens.
Pakman is convinced of the bright future of the crypto-currency market. He says:
I think this is one of the most revolutionary and innovative technological ecosystems, potentially capable of creating hundreds of companies worth billions of dollars each.
David Pakman, who joined Venrock ten years ago, is one of the four members of the team responsible for investing in crypto-currency start-ups. He says that half his working time goes to the search and study of crypto projects, and the other half he devotes to companies that produce robotics and consumer goods.
Commenting on his research in the environment of crypto-currency start-ups, he noted:
We estimate dozens of such projects a week. We are working in this direction very actively.
As for the blockbuster underlying most crypto currency, Pakman says that Venrock is more interested in investing in technology itself than in applications based on it.
He confesses:
From the very beginning, I considered blockade as an extremely interesting technological innovation, allowing to create great value, as well as a legitimate way of creating value outside of modern Internet platforms.
In April, Pakman said that Venrock invested in the decentralized video application network PROPS Project and entered into an agreement on strategic cooperation with CoinFund.
Venrock was founded in 1969 in New York as a venture project of the Rockefeller family, whose representatives still participate in its work as limited partners. The company is known for investing in start-ups: for example, it led the first round of investing in Apple, and also invested in Intel before the public heard about this project.