Heliad AG
FinLab AG: FinLab AG and Block.one Announce $100 million Joint Venture to Accelerate Development of EOS.IO Projects in Europe
DGAP-News: FinLab AG / Key word(s): Alliance/Funds Frankfurt am Main, Germany/Grand Cayman, Cayman Islands, 21 March, 2018 – Block.one, the developer behind the leading blockchain software EOS.IO, and FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A.GR), one of the first and largest company builders and investors in Europe focused on the FinTech sector, today announced the signing of a letter of intent regarding the formation and capitalization of a new $100 million (EUR81 million) fund managed by FinLab, that will make strategic investments throughout Europe in projects that utilize the EOS.IO open-sourced blockchain software. This is the third announcement for Block.one’s EOS VC initiative to stimulate EOS.IO innovation.
“EOS.IO’s Delegated Proof of Stake (DPOS) approach has shown to vastly improve the speed and resiliency by which blockchain networks operate and scale,” says Stefan Schuetze, member of the FinLab management board. “FinLab is excited to partner with the company behind this fundamental innovation and looks forward to fostering development of projects enabled by EOS.IO software.” “We are excited to work with FinLab, a leading European tech investor, to grow EOS VC’s global reach,” said Brendan Blumer, CEO of Block.one. “We believe the EOS.IO open source software fundamentally enables new community driven business models, and we remain committed to investing in that future.” This is the third EOS.IO fund formed through the EOS VC partnership program following announcements with Tomorrow Blockchain Opportunities, managed by Derek Rundell of Eric Schmidt’s TomorrowVentures, and Galaxy Digital, managed by Mike Novogratz. Block.one has made an initial commitment to deploy $1 billion in partnership with leading venture capital investors to support the development of the EOS.IO software.
21.03.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | FinLab AG |
Grüneburgweg 18 | |
60322 Frankfurt/Main | |
Germany | |
Phone: | +49 (0)69 719 12 80 – 0 |
Fax: | +49 (0)69 719 12 80 – 011 |
E-mail: | investore-relations@finlab.de |
Internet: | www.finlab.de |
ISIN: | DE0001218063 |
WKN: | 121806 |
Indices: | Scale 30 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |