Altcoin News: Circle Intends to Raise $100 Million for Its Venture Division

August 23, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The American payment company Circle, which is the owner of the Poloniex cryptocurrency exchange, is looking for a new general partner who can raise $100 million for its venture fund, writes CoinDesk.

The funding received is planned to be used to develop the SeedInvest crowdfunding platform, which Circle acquired in March.

“The Partner will be expected to develop and drive an investment thesis designed to leverage SeedInvest’s sizable deal flow and its unique network of 250,000 investors to maximize returns,” the vacancy text says.

The SeedInvest platform was founded in 2012 and helped to attract financing to more than 150 companies.

At the time of the purchase, Circle noted that SeedInvest’s infrastructure would allow it to engage in tokenization of shares in new companies.

“We believe that the tokenization of financial assets will ultimately unlock capital for growing companies and investment opportunities for people everywhere,” the firm said.

In July, it became known that Circle would transfer part of its operations to offshore jurisdiction. It is expected that this will expand the service’s capabilities for Poloniex users residing outside the United States.

Author: Marko Vidrih