Life.Sreda, a Russian VC fund, is raising a new fund of its own to invest in blockchain. The new fund is expected to start operation before the middle of this year.
Life.Sreda is planning to start by launching a $50m fund called “BB Fund” (Based-on-Blockchain Fund), its third in the past several years, with an eye to boosting it to $200m at a later stage. This is expected to be a limited partnership for traditional investors with a separate tokenized fund for cryptoinvestors.
BB Fund will work on a proprietary platform to ensure security, transparency and full accountability to investors. The platform is based on blockchain technology, and shareholders will be able to monitor all the operations of the new fund on a real-time basis, the project owner said.
BB Fund is expected to invest in 10-12 fintech companies that operate on blockchain tech by purchasing their shares and/or tokens. The fund is primarily interested in start-ups that focus on the Asian and developing markets and work on blockchain infrastructure, big data, analytics, regtech (technologies that help companies meet regulators’ requirements), as well as banking and insurance start-ups.
Back in 2016, Life.Sreda pooled efforts with Tatfondbank, a regional bank in Tatarstan, Russia, to launch an accelerator program for blockchain-focused start-ups.
Set up in 2012, Life.Sreda predominantly invests in fintech, mobile and Internet start-ups.