American VC Firm recently raised $1.8 billion, of which is plans to invest in a wide range of startups in many fields, one of which is blockchain.
Lightspeed told Reuters that most of the funds – more than $1 bln will be allocated to more mature companies, but that leaves nearly $800 million that can potentially help build the Crypto industry.
The firm has traditionally been an early-stage investment firm, being the first third-party investor in Snap – known for its messaging app, Snapchat. More importantly to the crypto industry, is their leading of the $30.5 million round of funding for Blockchain.com.
Ravi Mhatre, a partner in Lightspeed stated that granting $500 million or a billion dollars can be a king-making strategy. But it’s no substitute for building a lasting company. This kind of attitude from investors is what’s needed in order to healthily build out the industry.
Jeremy Liew, pioneer of Snap and Lightspeed partner is a big supporter of cryptocurrency, advocating for investments in Bitcoin, and predicting that BTC will reach astronomic heights by 2030.