Goren Holm Ventures Reaps Draper Investment12.09.2019
Goren Holm Ventures, the Los Angeles blockchain accelerator and incubator known for producing one of the world’s leading blockchain investment conferences, Crypto Invest Summit, announced today that renowned venture capitalist Tim Draper has invested in Goren Holm Ventures and has expanded his partnership with the firm, now rebranded to Draper Goren Holm.
“I am excited about doubling-down on Los Angeles and blockchain with the premiere blockchain conference and accelerator team in LA,” said Tim Draper. “Josef and Alon are ingrained in the LA community and have created a funnel of some of the top talent and entrepreneurs in the world. And we welcome the rebranded “Draper Goren Holm” to the Draper Venture Network.”
Draper is known throughout the world for his early investments in notable companies such as Tesla, Hotmail, Skype, and Coinbase. He is also known for his early support of Bitcoin.
Founding partner, Alon Goren, discussed the platform’s ability to identify early-stage, high-quality entrepreneurs in an emerging market and bring them all together.
“We’ve built a platform that enables us to find, identify and support the most amazing entrepreneurs in the blockchain space, at the earliest stage,” said Goren. “Having Tim Draper, one of the most successful and legendary early-stage investors on our team, further amplifies our efforts and growth.”
The announcement follows Goren Holm’s acceptance into the Draper Venture Network (DVN) earlier this year. DVN is a one-of-kind alliance of self-governed, independent venture funds that cooperate on investor diligence, market intelligence, corporate relationships, and co-investments.
However, the relationship between Goren, Holm, and Draper has evolved since then into Draper investing and becoming a board member of the firm.
After the announcement, GHV co-founder Josef Holm spoke about the opportunities and insight that Draper brings to a team.
“Tim is one of the most respected voices in not only cryptocurrency but throughout the investment world. We’re honored that he decided to join our firm and bring the world-class knowledge he has to offer.”
Deutsche Börse, Deutsche Bank and Citi were primary investors.
Fintech firm will use proceeds to expand its cloud-based SaaS and IT infrastructure service offerings.
Market data platform provider also announces trading technology veteran Rishi Nangalia will join board.
The funding will help the firm's further expansion in Asia.
Token offerings won't dislodge venture capital anytime soon.