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Aya Lin · · 1 min readIn brief: HTC-backed Proof of Capital launches $50m blockchain fund
- Proof of Capital, a VC firm backed by Taiwan’s HTC, has launched a new US$50 million blockchain fund, reports TechCrunch.
- The team consists of Phil Chen, who is currently developing HTC’s Exodus blockchain phone; Edith Yeung, who previously headed up mobile for 500 Startups; and Chris McCann, a Thiel Fellow formerly from US VC firm Greylock Partners.
- The fund targets early-stage blockchain companies in fintech, infrastructure, hardware, and the “consumer layers of the blockchain ecosystem.”
- Although Chen and Yeung have strong networks in Asia, the fund’s first deal is an investment in Latin America-based blockchain fintech startup Ubanx.
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