Tim Draper’s Draper Goren Holm Launches $25 Million Venture Fund For Fintech and Blockchain Startups

Draper Goren Holm has debuted a $25 million venture fund for promising fintech and blockchain startups.  It invests in companies globally, its stated focus is now more on European markets, with a new office opening in Vienna in December.

“Europe is becoming a major hub for fintech, and more specifically, blockchain innovation,” said Josef Holm, founding partner at Draper Goren Holm, in a statement. “It’s incredible to see how pro-crypto and blockchain European governments have become the last couple of years as their favorable regulations have attracted a flock of talented and diverse entrepreneurs building incredible projects across Vienna, Zug and Berlin, to name a few. Fund 1 will capture this ever-growing market and Draper Goren Holm will expand its value-add beyond our initial home borders of Los Angeles.”

Cryptocurrency tokens create a decentralized store of value, in that they can have value unbacked by any government-backed fiat currency. Draper Goren Holm’s 18 portfolio companies make financial instruments and platforms that are also decentralized — they are not connected to traditional banks and use distributed ledger technology (i.e., blockchains) to store information.

While many accounting firms are now giving tax-related services to clients invested in cryptocurrencies, larger firms have been seizing the opportunities offered by blockchain technology, and exploring its use primarily in assurance, attestation and the audit function.

California Based FinTech Tipalti Raises $150M In The Latest Funding Round

Tipalti got $150 million in new funding and a valuation of $2 billion. That puts the San Mateo, California-based FinTech well into “unicorn” status, meaning it’s worth more than a $1 billion valuation.

The funding round was led Durable Capital Partners, of Chevy Chase, Maryland, with participation from Greenoaks Capital and current investor 01 Advisors, according to a press release. Tipalti said it will use the money to “accelerate its growth path. This growth will be fueled by increasing the developer, product management, customer operations, sales and business development headcount.”

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