- BVV, a new blockchain-focused accelerator and venture capital firm launched.
- The firm partners with ex-executives from UBS and IBM as well as Lykke to offer blockchain accelerating services.
Switzerland: Blockchain Valley Ventures (BVV), a new blockchain-focused accelerator and VC firm was created yesterday 10th May, in Switzerland. BVV is partnering with ex-executives from UBS, IBM and SAP as well as Lykke to offer blockchain accelerating services, such as investment, financing, and advisory services, for blockchain business investment.
BVV focuses on investments in, and the incubation and development of, business enterprises that make use of blockchain tech. The firm stated that it will render various services, which include offering marketing, capital investments, and Initial Coin Offering support; and token development aid to firms who are attempting to employ the blockchain technology.
Blockchain Valley Ventures stated that it will also provide support to startups in employing Lykke’s open-source blockchain technology.
According to Oliver Bussman, a former group CIO at UBS and board member of BVV, in a statement: “BVV’s core mission is to build bridges between startups and investors, assisting those projects which offer real, substantive benefits to the global economy and the blockchain sector as a whole.”
BVV named this strategy for supporting startups the “Hybrid Model,” and stated that it is planning to use a combination of profits realized via ICOs and venture capital for this support.
Richard Olsen, founder, and CEO of Lykke said in a statement:
“As ICOs have become the new normal, it is no longer necessary to wait until you have accumulated significant revenue to make your dreams into reality.”
He added that:
“However, many would-be token issuers need guidance which is neutral, independent and unbiased.”
Blockchain Valley Ventures stated that although its initial plan was to focus on European Union and Swiss-based projects and investment opportunities, it is, however, eyeing both the global markets and a global impact.
Heinrich Zetlmayer, an ex-executive of IBM, said:
“Our long-term vision is to develop BVV into leading management holding in the cryptospace, offering assistance to projects we believe have real potential to have lasting effects on the industries primed for disruption.”