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The Future Capital Bitcoin Fund (FCBF) is a $30 million global investment fund aimed at companies leveraging services based on Bitcoin and other digital currencies.
The Future Capital Bitcoin Fund (FCBF) is a$30 million global investment fund aimed at companies leveraging services basedon Bitcoin and other digital currencies. The FCBF is based in Australia andheaded by digital entrepreneur, investor and fund manager Domenic Carosa.
FCBF began operations this month and isaccepting investments in AUD, USD, RMB, and Bitcoin and is also open tocompanies hoping to raise funds. According to the site, the fund was launchedto “make equity investments, globally,into companies facilitating payments, exchanges, trading and smart propertyrights based around the Bitcoin and other digital currency ecosystem.”
Carosa, who also co-founded the fund, said “Bitcoin has the potential to dramaticallyalter the manner in which transactions take place across the globe and thepower to create new modes of financial connectivity, seamlessly acrossborders.”
The FCBF is currently registered as anEarly Stage Venture Capital Limited Partnership (ESVCLP) which will provideinvestors with complete tax free returns on income or capital account under theAustralian Venture Capital Act of 2002.
According to the fund’s website, the teamof has had vast experience in investing in tech, mobile, and Internetstart-ups, while overall they have had “over50 years of collective investment and funds management experience… with over100 start-up companies, 4 previous funds, managing and raising more than $150min investment, growing businesses from $0 to $100m in revenue and listingthem.”
Mr. Sarcosa further elaborated on whyinvesting in Bitcoin is a bold strategy:
“Weview the emerging Bitcoin ecosystem as an investment opportunity that has transformativepotential across a raft of social, technology-based and cultural applicationsand we see great scope for the broader adoption of Bitcoin and its relatedapplications to redefine the global payment status quo.”
The Investment Manager of the Fund, HolgerArians, added “The concept of a globalcryptocurrency is probably the most disruptive innovation I have seen in thelast 10 years. I believe that Bitcoins will change the way we live, travel anddo business.”
The timing of the fund couldn’t come at amore peculiar time, as the National Australia Bank (NAB) announcedthey would cut ties with business customers primarily dealing in Bitcoin andother digital currencies effective May 2. The NAB concluded that digitalcurrency providers pose a great level of risk to the bank’s business andreputation.
Holger Arians will be present at the GlobalBitcoin Summit in Beijing from May 10-12 while Domenic Carosa will be attendingthe European Bitcoin Conference in Amsterdam from May 15-17 to promote theFuture Capital Bitcoin Fund.
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