Fidelity's new investment fund, Avon Ventures, will focus on "encryption and business within the blockchain system"

According to the Boston Business Journal, Fidelity recently made at least three investments in startups in the encryption and blockchain sectors through its newly formed Avon Ventures. It is reported that last year, after the departure of two employees, Matt Walsh and Nic Carter, who were responsible for Fidelity's encryption activities, Fidelity once suspended investment activities in this field. Former Fidelity Investment Equity Analyst and current Avon Ventures Chief Executive Officer Official Sachin Patodia has taken over the work of Walsh and Carter. Patodia said Avon Ventures will focus on "encryption and business within the blockchain system" rather than encrypting the assets themselves.