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Author Topic: [2014-05-04]Future Capital Bitcoin Fund (FCBF) launches $30m Bitcoin Fund  (Read 693 times)
italovers (OP)
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May 05, 2014, 10:20:30 AM
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http://www.newsmaker.com.au/news/30175/future-capital-bitcoin-fund-fcbf-launches-30m-bitcoin-fund#.U2dkp5J0VrR

First dedicated Australian Bitcoin fund launched by seasoned digital investor group, targeting global Bitcoin investments
IMMEDIATE RELEASE: May 5, 2014 - Melbourne, Australia:

The Future Capital Bitcoin Fund (FCBF), an Australian headquartered investment firm, has launched a $USD30 million global investment fund investing in companies that are leveraging services based on Bitcoin and other crypto-currencies.

Led by seasoned digital entrepreneur, investor and Fund Manager Domenic Carosa, the FCBF is Australia’s first dedicated Bitcoin investment fund.  The fund will source opportunities globally for companies facilitating payments, exchanges, trading and smart property rights based around the Bitcoin digital currency ecosystem.

“Bitcoin has the potential to dramatically alter the manner in which transactions take place across the globe and the power to create new modes of financial connectivity, seamlessly across borders,” said Mr Carosa, who is the Chairman and Co-Founder of the FCBF.

The fund, which is operational from May, is currently accepting investments from investors around the globe in AUD, USD, RMB and Bitcoin (BTC), and is also open to receiving expressions of interest from companies interested in applying for investment from the fund.

The FCBF team has investment and operational experience with Internet, mobile and tech start-ups along with specialist transactional and payment authentication expertise.   With over 50 years of collective investment and funds management experience, the team has been involved with over 100 start-up companies and four previous funds, managing and raising more than $150m in investment, growing businesses from $0 to $100m in revenue and listing them.  Bitcoin is a global phenomenon, and the Australian-based team has global experience across Silicon Valley, Hong Kong, The Netherlands and Germany.

"Australia has low sovereign risk and a globally trusted financial system,” Mr Carosa said. "This is a very exciting opportunity for global investors to participate in the Bitcoin ecosystem via Future Capital’s Bitcoin Fund."

Applicants to the fund will be managed by Investment Manager Holger Arians, who is experienced in corporate finance and strategy, supported by Fund Manager Remco Marcelis, a seasoned tech company CFO/COO and venture capitalist.

“The concept of a global crypto-currency is probably the most disruptive innovation I have seen in the last 10 years," Mr Arians said. "I believe that Bitcoins will change the way we live, travel and do business.”

The FCBF Fund is conditionally registered as an Early Stage Venture Capital Limited Partnership (ESVCLP) under the Australian Venture Capital Act 2002, which will provide investors in the FCBF fully tax free returns, on income and capital account.

“We view the emerging Bitcoin ecosystem as an investment opportunity that has transformative potential across a raft of social, technology-based and cultural applications and we see great scope for the broader adoption of Bitcoin and its related applications to redefine the global payment status quo,” Mr Carosa added.

The rise in popularity of Bitcoin over the last three to five years is due in large part to the growing ecosystem of companies that are both supporting it and looking to enable opportunities in and around the core currency and protocol.

“We are already actively participating in the evolving Bitcoin space and we see it is at an inflection point and ready for seasoned investors to assist in bringing financial and entrepreneurial experience to this market,” Mr Arians said.

Mr Arians will be attending the Global Bitcoin Summit in Beijing from 10-12 May and Mr Carosa will be attending the European Bitcoin Conference in Amsterdam from 15-17 May to promote the fund.

For further media information please contact:

Domenic Carosa dom@futurecapital.com.au (+61 411 19 69 79)

For FCBF details please contact:

Holger Arians holger@futurecapital.com.au (+61 439 716 110)

www.futurecapital.com.au
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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May 05, 2014, 10:23:59 AM
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2014 would be off to a tremendous start for Future Capital Bitcoin Fund!!!

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May 05, 2014, 10:26:40 AM
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About the $30 million Fund , do your sources tell you whether this $30 million fund has already purchased their initial Bitcoins?

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May 05, 2014, 10:44:21 AM
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wow, big one  Smiley

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May 05, 2014, 11:57:25 AM
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About the $30 million Fund , do your sources tell you whether this $30 million fund has already purchased their initial Bitcoins?


The first sentence says they are "investing in companies that are leveraging services based on Bitcoin and other crypto-currencies."  I don't see them saying they are purchasing bitcoins.
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May 05, 2014, 03:24:01 PM
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The first sentence says they are "investing in companies that are leveraging services based on Bitcoin and other crypto-currencies."  I don't see them saying they are purchasing bitcoins.

Oh... so they might be investing in Bitcoin exchanges such as Bitinstant and Bitstamp or in other Bitcoin-based firms such as Armory. First I thought that they might be buying 30 million worth of BTC.... sadly that is not the case.  Angry



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.BIG WINNER!.
[15.00000000 BTC]


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May 05, 2014, 06:15:33 PM
 #7

The first sentence says they are "investing in companies that are leveraging services based on Bitcoin and other crypto-currencies."  I don't see them saying they are purchasing bitcoins.

Oh... so they might be investing in Bitcoin exchanges such as Bitinstant and Bitstamp or in other Bitcoin-based firms such as Armory. First I thought that they might be buying 30 million worth of BTC.... sadly that is not the case.  Angry

While buying would be okay, I think the multiplier effect of investing the money will be much more important. :-)
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May 06, 2014, 03:25:01 AM
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The first sentence says they are "investing in companies that are leveraging services based on Bitcoin and other crypto-currencies."  I don't see them saying they are purchasing bitcoins.

Oh... so they might be investing in Bitcoin exchanges such as Bitinstant and Bitstamp or in other Bitcoin-based firms such as Armory. First I thought that they might be buying 30 million worth of BTC.... sadly that is not the case.  Angry

While buying would be okay, I think the multiplier effect of investing the money will be much more important. :-)

Absolutely. If nobody spends money building services around bitcoin, it's not going to be worth very much. Glad to see more and more VC money heading this way.
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May 06, 2014, 04:57:02 AM
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Anyway I am glad that people are investing in Bitcoin despite the extremely high volatility. Just one tweet from Bobby Lee (BTC China) and the price crashed by some $25.  Grin



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[15.00000000 BTC]


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May 06, 2014, 06:56:51 AM
 #10

The first sentence says they are "investing in companies that are leveraging services based on Bitcoin and other crypto-currencies."  I don't see them saying they are purchasing bitcoins.

Oh... so they might be investing in Bitcoin exchanges such as Bitinstant and Bitstamp or in other Bitcoin-based firms such as Armory. First I thought that they might be buying 30 million worth of BTC.... sadly that is not the case.  Angry

While buying would be okay, I think the multiplier effect of investing the money will be much more important. :-)

Absolutely. If nobody spends money building services around bitcoin, it's not going to be worth very much. Glad to see more and more VC money heading this way.

Bitcoin VC activity is amazingly strong compared to previous years.
I was looking forward to late 2014 for BTC to fully recover from Gox and China, but it might happen much sooner.  Smiley
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