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VC Firm Behind Snapchat Looks to Ramp up its Crypto Investments, Report Says

The project capital company in the back of Snapchat is having a look at tactics to extend their investments within the crypto trade, tech magazine Recode reported Would possibly 17.

Aaron Batalion, a spouse at project capital company Lightspeed, is main an effort to spice up the company’s funding by means of exploring 3 strategies: putting in a brand new fund, carving out a portion of an current fund, or launching a wholly new mission, Recode stories, bringing up “resources”.

In step with Recode, Lightspeed is leaning towards carving out a part of an current fund for crypto investments relatively than putting in a wholly new fund, which that they had been taking into account over the last few months.

Recode additionally provides that Batalion reportedly would possibly not need to wait and is thinking about stepping down from his place as a common spouse at Lightspeed to release his personal crypto-focused mission. Mentioning a supply just about Batalion, Recode stories that Lightspeed is ready to financially again the brand new doable mission.

Batalion isn’t the one spouse at Lightspeed taken with cryptocurrencies. Jeremy Liew, who led the company’s funding into Snapchat and is now a bullish Bitcoin proponent, was once part of Lightspeed’s backing of crypto pockets Blockchain.com’s preliminary investment in 2014.

Lightspeed’s passion in cryptocurrency is shared by means of more than one different main conventional VC companies. As Cointelegraph reported closing month, each Comcast Ventures and the Rockefeller circle of relatives’s project capital arm Venrock are making their very own strikes into the crypto area.

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