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Kavita Gupta to Lead Venture Fund

Kavita Gupta to Lead Venture Fund

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Blockchain innovator ConsenSys has made a big announcement regarding launching a multimillion dollar venture capital fund.

Blockchain innovator ConsenSys has made a big announcement regarding launching a multimillion dollar venture capital fund.

This Brooklyn based Tech pioneer has decided to launch a $50 million venture capital fund which will be headed by social impact expert Kavita Gupta.

Gupta, a native of India, is a 2015 recipient of the U.N. Social Finance Innovator Award. In addition to working at the World Bank, where she headed the association's youth innovation fund, she has over 10 years of involvement in impact investment across a variety of organizations, including McKinsey, HSBC and International Finance Corp.

Gupta's work is spread across four continents, and she has worked in the U.S., the Middle East, South Asia and Africa. She most headed mission investing for the family establishment of Alphabet Inc. official Eric Schmidt.

According to International Business Times, ConsenSys selected Gupta to oversee the venture arm "due to her broad and pioneering background”.

This investment venture would make the Brooklyn-based tech pioneer the biggest capital support in the market.

ConsenSys was established by Joseph Lubin, who also co-founded blockchain tech Ethereum. Since a considerable lot of the present ICOs (introductory coin offerings) are launched on Ethereum, hence, ConsenSys will be improving the security and would be promoting the best practices by tapping the manpower potential.

The VC arm, suitably titled ConsenSys Ventures, has not taken outside capital. Up until this point, it has yet to put money to work, yet is floating three term sheets.

On being roped in to oversee this venture arm Kavita said "I believe resolutely in the 100-year mission of blockchain to completely change the way society functions through decentralized technologies. I am beyond excited to start providing venture capital financing to companies that further this mission."

 

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