The blockchain and cryptocurrency industries have grown rapidly in recent years, and the high return on investment of related companies has made many investment institutions “coveted”, including not only indigenous investment institutions in the blockchain industry, but also some traditional investments. Institutions such as Sequoia Capital, Google, Tencent, Baidu, etc. In the past few years, a number of unicorn companies have been born in the blockchain field, Bitian, Coinbase, Jianan Zhizhi, Ruibo, Circle and so on. In this context, the investment institution that joined the wave of blockchain and began to gradually cultivate in the industry is Bloomberg Beta. According to Crunchbase data, the investment fund currently manages $225 million in funding.
Bloomberg Beta in San Francisco has been committed to early investment and was founded in 2013 by Bloomberg. The fund invests to obtain financial returns, maintains independence in selecting investment targets, and does not prefer companies that have a partnership with Bloomberg or who wish to have a partnership with Bloomberg. The fund is broadly focused on companies that are committed to future growth, such as machine learning and artificial intelligence.
Bloomberg Beta currently has six team members, Roy Bahat is the team leader, and other members include founding partner Karin Klein and partner James Cham. The fund's latest annual estimated income is $18.3 million.
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Bloomberg Beta currently has more than 160 portfolios, including not only globally recognized companies such as Slack, Codecademy, AngelList, but also cryptocurrency projects, including The Block, goTenna, Token, Everledger, SpringRole and more.
The Block is an English digital asset media business involving industry research and analysis. Founded in 2018 and headquartered in New York City, the company's team is spread across seven regions and covers the global cryptocurrency and blockchain industries 24×7. The Block includes a website, an information section, a Genesis research brand, a podcast "The Scoop", and a joint event with a third party.
The Block has completed four rounds of financing, with a total financing of $3.5 million (of which two financing sizes were not disclosed). The most recent financing was in April this year, Pantera Capital, Floodgaget, GGV, Boost VC, Distributed Capital, Sora, BlockTower, Bloomberg Beta, Greycroft, Blockchange and other more than 10 institutions participated in the investment, each institution received an investment quota of 100,000 US dollars. .
Founded in 2012 and headquartered in Brooklyn, New York, the company is not a complete blockchain company, but its business has gradually tilted toward the blockchain segment this year. goTenna is today the world's leading mobile mesh network company and an off-grid connectivity solution provider for smartphones and other devices. GoTenna's mesh network protocol, Aspen GroveTM, is embedded in lightweight, low-cost devices and paired with easy-to-use mobile applications for mobile and remote connectivity even in the absence of cellular, WiFi or satellite. goTenna's off-grid technology can be combined with blockchain networks.
In May 2019, Blockstream satellites were integrated with goTenna technology to facilitate the transmission of bitcoin without an internet connection.
The company has also been studying how to use the Bitcoin lightning network to achieve the decentralization of mobile communications. The GoTenna team published a new paper describing how Bitcoin micropayments can help decentralized mesh networks send "mobile communications" (such as text messages).
As of June this year, goTenna has completed a total of four rounds of financing, totaling $40.8 million. In the recent Series C financing, the company received $24 million in investments from investors such as Bloomberg Beta and United Square Investment (USV).
Founded in 2015, Everledger is also a long-term practice in the blockchain industry. Everledger's main product is a blockchain platform for the origin and traceability of diamonds, and an upgraded version has recently been introduced to expand into other supply chain areas such as gems, fine wines, luxury goods and e-waste management. .
In September of this year, Everledger received a $20 million Series A financing led by China Tencent Holdings, and Graphene Ventures, Bloomberg Beta, Lotte, Fidelity and Vickers Venture Partners also participated in the investment.
The Everledger platform is created based on the Superbook Fabric, which records the source, ownership, characteristics and transactions of the asset. In addition to the blockchain, the platform also uses artificial intelligence, Internet of Things (IoT) and smart tag technology.
Everledger has completed six rounds of financing, totaling $30.4 million. In March 2018, he obtained Fidelity and distributed capital investment of 10.4 million US dollars.
Founded in 2014, SpringRole is a blockchain startup focused on the recruitment industry, providing proven resumes through blockchain technology and a set of incentives. SpringRole was founded in 2014 by Carnegie Mellon University graduate Kartik Mandaville, a machine learning and blockchain expert.
According to the Crunchbase reality, SpringRole completed a total of $1.3 million in financing. SpringRole's original goal was to penetrate the Indian professional and technical talent market. Features built include directory listings, search, job search sections, work proofs, and reputation ratings.
Bloomberg Beta completes third $75 million fundraising
On October 19th, Roy Bahat, who had run online media company IGN and partnered with Karin Klein and James Cham, to operate the fund, announced on Medium that Bloomberg Beta had completed the recruitment of the third fund, totaling $75 million. The two funds are the same size (initially at the beginning of 2013, two $75 million funds were raised in 2016). He said that they will continue the company's previous path and will provide venture capital companies with an initial investment of $5 million to $1 million and about 10% of company ownership.
Bloomberg Beta team member