Digital asset start-up NextBlock out of the blocks with $20m funding
NextBlock is “disruptive”. Ain’t we all?
Toronto-based NextBlock Global, a new digital asset investment company, has got itself off to a good start with the closing of an “oversubscribed” $20 million financing round.
Like many other start-ups, NextBlock says it’s “disruptive” – and is setting its targets on the new digital asset economy. It says these assets, like Bitcoin and Ethereum, are “foundational to the new internet of value, which is beginning to disrupt the economy in profound ways, upending everything from financial services to energy grids”.
NextBlock co-founder and CEO Alex Tapscott says it saw “tremendous demand from institutional and strategic investors who are looking to get exposure to this new asset class”.
The firm will “immediately” begin to deploy capital for its investors.
Charlie Morris, NextBlock co-founder and chief investment officer, adds that blockchain entrepreneurs are “bypassing traditional gatekeepers and instead conducting vast global crowdsales of digital assets, which to-date have raised over CA$1.7 billion ($1.36 billion) this year”.
NextBlock also paid tribute to Toronto as a place for innovation, hubs and other nice things. They’re fair points to make as last year Banking Technology was invited to a tour of that fine city.
On that visit, given to the international media by the Ministry of Economic Development and Growth (MEDG), we met the talented firms – and heard Ontario call out for more venture capital to come to the region as it looks to boost its fintech industry.
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Deadline for submitting the nominations is 25 August 2017.
