Proof of Impact, a blockchain-based, global marketplace for natural and social capital has closed a funding round led by American asset management firm Franklin Templeton Investments.

On Dec. 12, Proof of Impact announced that it closed its first institutional investment round led by Franklin Templeton, a global fund manager that manages around $700 billion in assets.

The scale of Franklin Templeton’s investment remains unknown, but as part of the agreement, a Franklin Templeton representative will take a seat on the Proof of Impact board. Proof of Impact co-founder Fleur Heyns said:

“We are extremely pleased that a global financial institution with extensive emerging market investment product experience and distribution capacity is committed to build the next generation impact investment market with us.”

The funding round also attracted world-leading financial firms such as Ausum Ventures, Crypto Valley Venture Capital and Pangea Blockchain fund. The investment has reportedly allowed the Amsterdam-headquartered company to address several strategic development goals across the world.

Proof of Impact is a global blockchain-based marketplace where one can donate or invest directly into measurable impact outcomes. It allows for funding, execution, and trading of impact events and impact investment products and aims to bring together donors and investors with non-profits and impact-focused companies.

Franklin Templeton wants government money market fund on Stellar

In September, the asset manager giant filed a preliminary prospectus with the United States Securities and Exchange Commission (SEC) for a government money market fund with a focus on blockchain-based shares.

Franklin Templeton’s fund reportedly will make investments in a range of products such as U.S. government securities, repurchase agreements, and blockchain-based shares. The document also stated that cryptocurrencies will not be part of the investments.