Blockchain startup Block.one has announced a venture capital initiative to foster the EOS ecosystem.
The company has announced “EOS VC” and committed to investing more than $1 billion into funds focused on the growth of the EOS ecosystem.
“In December 2017, Block.one committed to investing US$1 billion to launch EOS VC, a vehicle designed to invest in businesses leveraging the transformative capabilities of the EOSIO software. EOS VC has announced deployment of capital through partnerships, including with: Michael Novogratz’s Galaxy Digital, Derek Rundell of Eric Schmidt’s TomorrowVentures, Finlab AG (ETR:A7A), and Michael Cao’s EOS Global,” according to the website.
Block.one is the publisher of the EOS.IO blockchain software, which is heading for its mainnet launch in June 2018. The company held one of the most successful ICOs in the history, raising around $700 million through EOS token sale.
EOS is currently the fifth most valuable cryptocurrency by market cap and is trading at $10.76 at press time.
Last week, Block.one announced an initial $3 million commitment to the Department of Computer Science in Virginia Tech’s College of Engineering to help students build skills in blockchain.