Erik Finman, a Bitcoin millionaire, is starting an investment fund to pay money to blockchain projects, as reported by CoinDesk.
They’re calling the project Metal VC, and it’s taking advantage of Finman’s cryptocurrency, Metal Pay, as well. As of now, they’ll focus on smaller, micro-investments alongside first-come angel investments. On top of this, the money will mainly go towards banks and other decentralized projects, the publication notes.
Interestingly, the project has already put money into something called Yellow Card, a startup that’s also backed by Binance, and one that helps convert cash to cryptocurrencies in order to make these digital assets more accessible.
Bringing in the money
Speaking to the publication is CEO Marshall Hayner, stating, “with Metal VC, our vision is simple, if we see something we like and believe in, we will invest and send MTL Coin right then and there.” He continues, saying that they essentially view each investment as a partner of the company, ideally, they would treat them as an equal to ensure the platform gets off the ground.
Now, Metal VC is looking to put money into any number between 25 to 100 startups. It doesn’t matter if they’ve been around for a short or a long while, and they’ll put anywhere from $25,000 to $250,000 down to help fund.
