Allen Zhu Said GSR Ventures Had Never Invested in Any ICO Projects, Feng He, Founder of DeepBrain Chain Confirmed DeepBrain Chain Follow Mar 8, 2018 · 2 min read

After Allen Zhu, Managing Director of GSR Ventures made the clarification again that GSR Ventures had never invested in any ICO projects, Feng He, founder of DeepBrain Chain confirmed that the VC firm had not invested in his blockchain project.

Feng said, DeepBrain Chain made two public announcements in response to some rumors online. The first one was released more than two months ago, explaining that GSR Ventures had not invest in DeepBrain Chain, the blockchain project and that it had only invested in DeepBrain, the AI company.

“Yet A lot of people still think of the two companies as being the same. This bothers Allen. We feel sorry.” Feng said.

He also explained that DeepBrain Chain was started a long time ago and there was a report about it in August 2017. Back then, it was a DeepBrain project. After September 4th 2017, DeepBrain Chain was spun off into a separate non-profit organization registered in Singapore.

The official announcement made by DeepBrain Chain a few days ago made clear that GSR Ventures is an early investor and follow-up supporter of DeepBrain, the AI project. Neither GSR Ventures nor any of their team members had invested in DBChain, the blockchain project. They have never invested in any token projects, nor do they own any tokens.

It also clarified that DBChain and DeepBrain are separate entities legally and in terms of organizational structure. DBChain is a non-profit foundation and DeepBrain open platform is one form of the DBChain ecosystem, but it’s not the only one.

Yesterday, when asked whether he had invested in DeepBrain Chain, Allen said, GSR Ventures had invested in DeepBrain, but it had never invested in any ICOs. “Neither me, nor GSR Ventures or any of our employees have invested in ICOs, nor have we any DBC.”

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