I’m excited to announce our investment in Evan Kuo, Brandon Iles and their new company, Fragments, which is building a low-volatility cryptocurrency.

At True, our best source for new investments is introductions from Founders in our community. Fragments is another example of that, as we were introduced to Evan by Jyri Engström and Anmol Madan.

Evan’s approach to this problem is unique in that Fragments are price stable, but will split and move in a manner uncorrelated with other major coins. We believe this approach will be fair to all market participants and functional for both short-term and long-term applications.

Fragments Co-Founders Evan Kuo and Brand Iles.

We were first exposed to Bitcoin in November 2012 through our investment in WordPress.com. We have been active investors in the space since then. In addition to our deep experience as investors in companies built around open source communities, Fragments will be our fourth seed investment in a new cryptocurrency project.

We’re incredibly excited about the new markets and applications of crypto products that Fragments could open up. We’re also excited to work closely with our co-investors at Founder Collective, Pantera Capital and FBG Capital, as well as angels Brian Armstrong, Alok Vasudev and Michael Karnjanaprakorn. This a great group of partners for Evan, Brandon and the team at Fragments as they build important infrastructure for the future of global commerce.

Welcome to True, Evan and Brandon!