Equilibrium Group Launches Equilibrium Ventures, Its First Fund Plans to Raise Over $30 Million

Odaily News Blockchain engineering company Equilibrium Group has launched its venture capital arm Equilibrium Ventures and its first early-stage fund, Equilibrium Ventures Fund I. Mika Honkasalo, investment partner at Equilibrium Ventures Fund I, revealed that the fund is seeking to raise 30 million euros (about 32.5 million U.S. dollars) and has raised about 20% (6.5 million U.S. dollars) in the first round, and it is expected to complete the full fundraising by the end of this year. Honkasalo said that the fund's backers include Equilibrium Group itself as well as Sebastien Borget of The Sandbox, Mask Network and Jigeum Capital. Equilibrium Ventures Fund I has not yet begun to deploy its capital, but it is expected to be fully deployed within the next 24 months. The fund will invest in equity and token projects, but is expected to support projects that will eventually issue coins. The average investment amount per startup will be between $250,000 and $1 million, mainly used to support Pre-Seed and Seed rounds, as well as some Series A startups. (The Block)