Ripple Announces $25 Million in XRP Investment in Blockchain Capital Fund

Ripple Invests $25M in Blockchain Capital

San Francisco based Blockchain technology payment system Ripple has invested $25 million of its cryptocurrency XRP into Blockchain capital Parallel IV LP Venture Fund.

The $150 million fund managed by Blockchain Capital will invest in entrepreneurial teams that are building businesses using blockchain technology.

Now, this isn't an option at most venture capital firms, which are making investments in crypto-related projects but don't typically accept fundraising contributions in the actual cryptocurrencies.

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"As pioneers in the blockchain sector, we have been on the frontlines and in the trenches with our portfolio companies, like Ripple, building a new crypto ecosystem". "There are entire verticals - like healthcare or identity management - that could benefit from blockchain or distributed ledger technology". In addition to being an investment partner, the fund comes with the ability for Ripple to identify and potentially influence new use-cases for XRP (the native currency of Ripple), thereby giving current coin investors a reason to hold the cryptocurrency outside of present projections of bank adoption.

Two things are unusual about this: This is a rare example of a startup funding a venture capital firm, as opposed to the reverse, and it's a venture capital firm that has previously funded it, too.

Last November, TechCrunch founder and cryptocurrency advocate Michael Arrington stirred the markets by announcing his founding of a hedge fund based entirely in XRP.

And even more fascinating is that Ripple is not making this fund investment in US dollars but in the XRP currency itself. "We plan to be major players in shaping the future generation of blockchain or crypto companies", continued Griffen.

Last month, Ripple partnered with Banking group Santander to release an global money transfer app using Ripple's blockchain xCurrent and RippleNet platforms.

In March, Ripple's CEO Bard Garlinghouse stated that he wanted the company to begin investing in more start-ups interested in using XRP and its technology.

Ripple believes in supporting the XRP Ledger and Interledger Protocol and will continue to look for opportunities to support entrepreneurs, companies and funds that share this vision.

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