The author of a book on blockchain is launching a digital asset investment firm with $20 million in backing.
Alex Tapscott, co-author of 'Blockchain Revolution', says the $20 million financing round for Toronto-based NextBlock Global was oversubscribed.
The new firm is betting that digital assets are set to disrupt the economy in profound ways, upending everything from financial services to energy grids, media to manufacturing, and ushering in the next generation of world-leading companies, platforms and networks for a new economy.
Says Tapscott: "We saw tremendous demand from institutional and strategic investors who are looking to get exposure to this new asset class."
Co-founder Charlie Morris adds: "Blockchain has made the world of venture capital virtually unrecognizable: blockchain entrepreneurs are bypassing traditional gatekeepers and instead conducting vast global crowdsales of digital assets, which to-date have raised over C$1.7 billion this year."