A VCs point of view regarding ICOs

ICOs Will Merge with VC Funding

I think ICO’s will be around for a while, but most will be combined with VC funding.  It will not solely be about just raising capital without having a useful purpose for the token.  As well as proper governance for the startup.  Startups are going to have to take ICOs into consideration because blockchain and crypto are here to stay.  We at SeedPlus have been investing in ICO startups and recently we invested in a company called Zenprivex.

Zenprivex (ZPX) is a startup that is building a decentralized cryptocurrency exchange in Singapore.  They specialize in digital token creation, crypto research, and have actively managed funds in the crypto/blockchain asset class.  The team is comprised of investors, bankers, consultants, and data scientists.  They also have a strong advisory board comprised of investors and operators with deep networks in Asia.

Token Versus Cryptocurrencies

Many startups will be looking at Singapore as an option to start their ICOs.  Many countries like Korea are going to get more strict around ICOs in general.  However, as a VC I am more interested in platforms for companies that might have a token versus cryptocurrencies in general.  Recently I have been reading up more on zCash because I find the notion of a global, open, and secure money very interesting.  As well as the work they have done around shielded transactions with different levels of privacy.

As an investor, it is important to study up on the latest in blockchain technologies and cryptocurrencies because this is the future.  Innovation will come out of these industries so it is important for VCs to familiarize themselves with potential movers in cryptocurrency.  I will continue to monitor zCash and other privacy-focused coins.

Michael Smith Jr
Michael Smith Jr

Michael is a Partner at SeedPlus and has helmed technology-led expansions across the region from HOOQ (SingTel), Spuul, Yahoo! and BEA Systems (later acquired by Oracle). At Yahoo!, Michael served as Director of Global Tech Initiatives. He managed the Asian developer network and oversaw the acquisitions of start-ups and partnerships with companies across Southeast Asia.

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