Omers Ventures, the venture capital investment arm of Omers, one of Canada’s largest pension funds with over $72 billion in net assets, has made an investment in Digital Currency Group (DCG), a venture investor and builder of bitcoin and blockchain companies globally.
The amount of the deal was not disclosed.
Founded and led by Barry Silbert, DCG is focused on the blockchain ecosystem through four business divisions:
– Grayscale,
– Genesis Trading,
– DCG Investments, and
– CoinDesk.
The investment represents an opportunity for Omers to get involeved in the nascent Blockchain, the decentralized network technology underlying crypto-currency such as bitcoin, which is set to disrupt global financial services. Many of the world’s largest banks are currently piloting blockchain related projects to improve their products/services and operations with a broad adoption throughout the financial services industry expected over the next five years along with emerging blockchain 2.0 applications, including the powering of smart contracts, ownership/asset transfer, identity management, security, and IoT networks.
FinSMEs
29/04/2016