SparkLabs launches $100M investment fund for cryptocurrency and blockchain startups

A new $100 million fund has been set up to invest in early-stage companies operating across the blockchain and cryptocurrency spectrum. SparkChain Capital is a new venture courtesy of SparkLabs Group, a company that operates a network of accelerators across Asia, as well as a duo of VC funds.



Officially launching today, SparkChain Capital, an open source payment network protocol that just this week announced a tie-up with IBM to create a cross-border blockchain payments solution.



“With the rapid pace of innovation moving in this space, it is crucial to have the most experienced advisors involved from the early outset,” the company explains. “At SparkChain Capital, we have prepared ourselves by carefully recruiting some of the best securities advisors and fund attorneys to make sure that we always will be SEC compliant no matter how the wind blows.”



SparkChain Capital will be targeted at blockchain and cryptocurrency companies around the world, though SparkLabs’ existing network across Asia will be leveraged to its fullest in places such as China, South Korea, and Japan. Indeed, SparkLabs already has investments in blockchain startups through its Seoul accelerator, including enterprise-focused blockchain company Blocko and bitcoin remittance startup Sentbe. Elsewhere, SparkLabs Global Ventures has invested in Swedish bitcoin exchange Cryex.