VC Fund Erne Ventures Shifts From Gaming to Blockchain
Polish Venture Capital fund Erne Ventures has shifted its focus from video and mobile games, in favor of a blockchain strategy and, on Sunday, announced investments to launch a crypto-mining company and a cryptocurrency exchange.
Erne Ventures, which has been listed in Warsaw for ten years, announced that it has taken over EBC Solicitors, which will launch the crypto-mining company and that, earlier this month, it had acquired another public company, Revitum, with plans to open a European cryptocurrency exchange.
The fund will focus on ‘reverse ICOs’, those which already have a finished product or service. This is because many digital currency issues are only ideas at an early development stage and lack full information about the creators or have insufficient documentation, preventing a full assessment of investment risk, said the statement.
Another of Erne Ventures’ portfolio companies, Telehorse, is also moving its strategy towards the blockchain. Having launched an international community distribution platform for gaming, Telehorse will finance marketing and distribute computer and mobile games selected by the community, based on blockchain technology. The platform will be developed as part of a special-purpose vehicle, which plans to raise funds through an ICO.
Erne also stated that it is partnering with firms around the world to bring expertise into projects including developing token economics, the legitimacy of using blockchain technology, as well as KYC/AML solutions and digital coin offerings.
Erne Ventures website: www.ERNE.pl
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