Y2X wants to do Moore for blockchain investment
So many people involved in its creation
Guggenheim Partners, software firm G2’s co-founder and a consortium of investors have unleashed a new blockchain-centric company called Y2X.
Based in Manhattan, NYC, Y2X’s ambition is for capital formation and early-round investment that “identifies, finances, and incubates transformative ideas and businesses”.
The firm comprises entrepreneurs, financial experts, investors, and technologists who all want to cash in on blockchain fever.
Mo Gawdat, former chief business officer of Google and a co-founder of Y2X, says it “harnesses the power of peer-to-peer fintech and embraces new blockchain protocols to help entrepreneurs”.
There are a lot of people involved in the formation of Y2X. These include a chief scientist, a real estate executive, and David L. Shuler, former MD, Paxos, and VP, Goldman Sachs.
Y2X is raising an initial $200 million through a “global token offering”. Y2X will specialise in regulated token issuances and capital raising mechanisms and will maintain stakes in the companies it helps to finance.
As of date, Y2X says it has secured six mandates to assist companies in raising capital. These unnamed firms are in the sectors of artificial intelligence (AI), blockchain development, education, energy, infrastructure, and nano biotechnology.
The company says its name was derived from Moore’s Law, Y=2x, and “signifies its dedication to the law of accelerating returns”.
