Venrock, a venture capital firm created by John D. Rockefeller’s family is investing in cryptocurrencies.
The firm will be investing in the cryptocurrency market and projects. Founded in 1969, the grandson of John D. Rockefeller brought his siblings together to form the company. The company started with a one million dollar capitalization, but after multiple successes, they have grown into a huge three billion dollar firm.
Venrock is known for its abilities to find extremely successful start-ups. Their long list of clients is very impressive. For example, they have invested in Intel and Apple before they were household names. Venrock has done its research and has found crypto to be a huge space in the future. Many venture capital firms will follow in Venrock’s footsteps, investing in crypto.
David Pakman, a Venrock partner, said Venrock wasn’t interested in short-term gains, but rather the long-term future of crypto. Venrock is making a multi-million dollar bet on cryptocurrencies being part of our daily lives in the future.
Venrock will be partnering with CoinFund, a fund that specializes in the cryptocurrency area. CoinFund is a venture capital firm that invests in companies that use blockchain technologies.