Berlin based blockchain venture fund Neufund has secured €2M in Series Seed funding led by Atlantic Labs, Klaas Kersting and a group of superangels. Neufund offers a legal and technical solution that bridges company shares and blockchain-based tokens.
Berlin-based Neufund has raised €2 million from Christoph Maire’s Atlantic Labs, Klaas Kersting and a group of superangels. Neufund will use the funding to build an open platform for investors to acquire startup equity in the form of tradable crypto tokens. Blockchain-based startups can, in theory, raise funds within hours directly from the crypto community investors in initial coin offerings (ICOs). Last year, such companies have received more than $250 million in funding through ICOs. The issued coins (or tokens) can then be traded freely on cryptocurrency exchanges. There remains, however, scepticism amongst many traditional VCs that this arrangement will lead to successful startups. That said, blockchain enthusiasts are heralding this type of development as a revolutionary way to raise money and realise value for startups and investors alike.