QUICK TAKE :
- While Europe’s venture scene has been slow to launch sizable crypto funds comparable to those in the U.S. and Asia, this is finally changing.
- In the past year, we’ve seen large capital raises from not only the continent’s web3-native venture firms but also generalist funds.
- Still, issues remain: in some jurisdictions would-be crypto funds struggle to custody tokens and slow regulators have hampered rollout.
As crypto's last bear market was drawing to a close, 1kx, a crypto fund that’s backed Matter Labs, Gnosis and Qredo, held an invite-only crypto summit as part of 2019’s Berlin Blockchain Week.
1kx founding partner Lasse Clausen extended an invitation to most of the venture capitalists he knew, aiming to school them on blockchain technology. Only one showed up.
“European VCs completely slept on blockchain,” says Clausen, “That meant most VCs didn’t have the mandate from their limited partnership agreement to buy tokens”
Source : https://www.theblock.co/post/176920/european-vc-launching-crypto-funds