Australian investment firm launches $30 million fund for bitcoin startups

- May 5, 2014 < 1 MIN READ

The bitcoin craze continues, with Australian-headquartered investment firm, Future Capital Bitcoin Fund (FCBF) launching a USD$30 million global investment fund targeted towards startups leveraging Bitcoin and other cryptocurrencies.

Led by entrepreneur, investor and Fund Manager, Domenic Carosa, the FCBF is currently accepting investments from investors around the globe in AUD, USD, RMB and Bitcoin (BTC), and is open to receiving expressions of interest from companies wanting to raise capital.

“Bitcoin has the potential to dramatically alter the manner in which transactions take place across the globe and the power to create new modes of financial connectivity, seamlessly across borders,” said Carosa, the Chairman and Co-Founder of the FCBF, in a new media release.

“Australia has low sovereign risk and a globally trusted financial system. This is a very exciting opportunity for global investors to participate in the Bitcoin ecosystem.”

Applicants to the fund will be managed by Investment Manager Holger Arians, who is experienced in corporate finance and strategy, and supported by Fund Manager and venture capitalist Remco Marcelis.

“The concept of a global cryptocurrency is probably the most disruptive innovation I have seen in the last 10 years,” said Arians, in a media release.

“I believe that Bitcoins will change the way we live, travel and do business.”

The FCBF Fund is registered as an Early Stage Venture Capital Limited Partnership (ESVCLP) under the Australian Venture Capital Act 2002, which will provide investors in the FCBF tax free returns on income and capital account.

“We view the emerging Bitcoin ecosystem as an investment opportunity that has transformative potential across a raft of social, technology-based and cultural applications and we see great scope for the broader adoption of Bitcoin and its related applications to redefine the global payment status quo,” Carosa said.

Image: brw.com.au.