Block.one, the developer behind blockchain software EOSIO, has announced a new partnership with blockchain veterans Michael Cao and Winnie Liu that sees the formation of a new USD $200 million joint venture fund, EOS Global.
As part of the deal, EOS Global will make strategic investments in Asia-focused projects utilizing EOSIO.
This is the fourth injection of capital through Block.one’s EOS VC initiative which now totals $600 million USD.
The new fund follows announcements of EOS VC partnerships with Finlab AG, Galaxy Digital, and Tomorrow Blockchain Opportunities. Block.one has made an initial commitment to deploy US$1 billion in partnership with leading venture capital investors to support development on the EOSIO platform.
“The blockchain space is a competitive one, but we are convinced that the speed, scalability, and usability of the EOSIO open-source platform will enable rapid and radical innovation previously impeded by the limitations of existing protocols,” says Michael Cao, the founder of a blockchain mining facility in the United States and prominent investor in key blockchain infrastructure throughout the world. “We are incredibly excited to support an architecture that will drive mainstream blockchain adoption and foster new community-driven business models.”
Block.one CEO Brendan Blumer commented: “Block.one is delighted to welcome investment from Michael and Winnie’s fund that will leverage EOSIO to catalyze the transformation of the digital assets space in Asia. EOS VC is expanding its global reach through diverse partners poised to offer EOSIO projects unprecedented international access.”