Investment into cryptocurrency has been a growing trend among some big investors of late. Now, Venrock Capital, a major venture capital group started by the Rockefeller family has followed suit.
David Pakman who serves as a partner with Venrock Capital said that after spending some time in the crypto ecosystem they saw that Coinfund was highly productive with helping architect a number of crypto-economies and crypto token-based projects. Based on the proven history of CoinFund, they decided to work together with the team to seek out some long term goals.
In an interview with Fortune.com’s Balancing the Ledger with Jen Weiscner and Robert Hackett, Pakman said that after a thorough vetting of the hedge funds and crypto traders in the market, Venrock settled on CoinFund. “Their long term focus, I think, aligns them a little bit more with venture capital.” Pakman said. He also emphasized that CoinFund was a well respected team of crypto enthusiasts who had helped architect a number of different projects.
Venrock Capital is headquartered in Palo Alto, California and was initially created by Laurance S. Rockefeller, the son of John D. Rockefeller Jr. It began as Rockefeller Brothers, Inc. in 1946 but in 1969 the name was changed to Venrock. The firm has historically invested in innovations and progressive projects that have all shown positive results such as aviation technology, aerospace, electronics, optics, lasers, data processing, thermionics, nuclear power and now cryptocurrency. Venrock has an impressive list of investments including Apple, Intel, and Nanosys, a nanotechology division of Du Pont. With Venrock’s latest investment into the cryptocurrency world, even those who are most critical of cryptocurrency will begin questioning their position.