Australia’s first dedicated bitcoin fund was launched today.
Future Capital Bitcoin Fund has launched a $US30 million fund which will invest in companies that are leveraging services based on bitcoin and other crypto-currencies.
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Co-founder and chairman of the fund Domenic Carosa says the digital currency has the potential to dramatically alter the manner in which transactions take place across the globe.
According to a company statement, the team behind the fund has experience with mobile and tech start-ups both in the investment and operational sense.
The fund is accepting investments from investors around the globe in AUD, USD, RMB and Bitcoin and is open to expressions of interest from companies interested in applying for investment from the fund.
It’s conditionally registered as an Early Stage Venture Capital Limited Partnership under the Australian Venture Capital Act 2002, which will provide its investors with fully tax free returns, on income and capital account.
Applicants to the fund will be handled by investment manager Holger Arians.