In this blog, we curate relevant and remarkable content related to blockchain, cryptocurrency and the digital economy. This piece of news by Wolfie Zhao published on CoinDesk reports that another $1 Billion blockchain fund with government backing is set to launch. Read on.
“Another Chinese city is launching a fund worth over $1 billion in order to support the development of blockchain-focused enterprises.
The district government of the Jiangbei new area in Nanjing city announced the plan to launch the 10 billion yuan (around $1.4 billion) blockchain fund last Friday. The project will be funded through a public-private partnership, according to a report from Xinhua News Agency.
Yuandao Capital – a fund launched by Yuan Dao, chairman of a blockchain industry alliance established by top Chinese academic institutions – will join as a partner of the blockchain fund. The other partner is Jolmo Investment Management, a publicly listed venture capital firm based in Nanjing.”