Source: Digital Currency Group
When we first announced the formation of Digital Currency Group in October 2015, we were joined by a terrific group of investors who were eager to explore the nascent bitcoin and blockchain technology ecosystem.
At Digital Currency Group, we build and support bitcoin and blockchain companies through our network, insights and access to capital. Over the past year, our portfolio has grown to encompass 70 companies spanning 22 countries and we now operate three wholly-owned subsidiaries including CoinDesk, a media and events platform we acquired in January 2016.
We are proud to announce that over the past six months both our firm and team have continued to grow. We have been joined by a group of new investors including Western Union, Beijing-based HCM International Company, and a number of family offices, investment managers, and funds including Gibraltar Ventures, OMERS Ventures, Horizon Kinetics, Kingsbridge Wealth Management, and Wood Investment Partners.
Our investors now span various segments of the financial industry, from banks to insurance companies to global money transfer and payments companies who see the potential of digital currencies and their many applications. It also includes manufacturing companies and media companies looking to leverage digital currencies and distributed ledgers to create new efficiencies in their business and build new products and services that make the movement of assets and money around the world instant, frictionless, and truly borderless.
Our team believes that neither a standalone venture capital or standalone private equity model is perfectly suited to support - and help drive forward - new industries like ours. This is why we set out to create a company, not a fund, that could have the flexibility and permanent capital base needed to invest in technology and build service businesses to enable institutions, corporations and investors to access digital currency and distributed ledger technologies in new ways.
Over the past six months, we have worked with our investors and other corporate partners to create new models for partnership that create value and opportunity for our portfolio companies, our investors, and the broader corporate ecosystem. Our aim is to help companies learn together and build partnerships that leverage the unique strengths and insights of each stakeholder. We continue to believe that collaboration and partnership between startups, incumbents and the industry will be a winning recipe in helping this new technology achieve its true potential and accelerating the development of a better financial system.