$1.8 Billion For Crypto At Lightspeed Ventures...

From Hacker Noon:

$1.8 Billion for Crypto at Lightspeed: Notable VC Firms are Raising Sizable Funds for Crypto & AI

Lightspeed Ventures, a well-known Silicon Valley venture upper-case missive of the alphabet firm, has laid upwards a $1.8B fund for crypto. At the same time, Andreessen Horowitz to a greater extent than or less other notable VC theatre stated:

“We believe that simply every bit the in conclusion 3 megatrends — mobile, social, in addition to cloud — intersected in addition to reinforced each other, in addition to then volition the side past times side 3 megatrends — next-gen computing devices, AI, in addition to crypto.” — a16zcrytpo.com

Another recent quote sums upwards the fervor inwards crypto amid funds inwards a really powerful way:

“The hedge fund financiers backing QI are far from the only City bigwigs putting cash behind AI in addition to related fintech projects.

In May, the Swiss banking concern UBS said it was moving fourscore staff into a novel artificial-intelligence division, dubbed the Strategic Development Lab, which is dedicated to defending its fixed-income trading turf against hungry fintech startups.

Later the same calendar month Deutsche Börse, the High German stock exchange, said it had earmarked €270m for investment inwards large information analysis, blockchain, robotics in addition to AI.

Meanwhile, the City Corporation’s meridian envoy to the EU, Jeremy Browne, said belatedly in conclusion calendar month that he thinks AI volition endure to a greater extent than disruptive to United Kingdom of Great Britain in addition to Northern Ireland of Britain in addition to Northern Republic of Ireland fiscal firms than Brexit, inwards the long term.

Quant Insight in addition to its backers are betting that banks in addition to property managers volition every bit good tap into novel tech past times buying inwards services similar the i it offers. The analytics theatre said it has grown client numbers past times 50% this year, in addition to has added novel staff to sell its services inwards Asia in addition to the US.

It is every bit good working amongst “major banks” on creating bespoke indexes in addition to equity baskets — groups of stocks that part for sure characteristics in addition to are probable to movement inwards a similar agency inwards reply to given macro events.”

As to a greater extent than funds focus on AI in addition to cryptocurrencies, simply every bit our fund has done for the in conclusion 4 years, nosotros anticipate a consolidation of lineament amongst funds focused on high-end crypto technologies that utilize AI, NLP in addition to Machine Learning.

Influenza A virus subtype H5N1 few examples of cryptos beingness targeted past times novel crypto in addition to AI-focused funds mightiness be: Matrix AI, Vectorspace AI or SingularityNet [link].

Venture upper-case missive of the alphabet theatre behind snapchat, Lightspeed is planning to laid a brand-new cryptocurrency projection that volition endure starting fourth dimension of its sort for a premium venture company, an earmarked puddle of cash inside a bigger fund to endure spent exclusively in addition to exclusively on crypto investments.

Lightspeed Ventures, a point-of-sale in addition to e-commerce software provider based inwards Montreal, Quebec, Canada. They supply pocket-size in addition to medium-sized retail in addition to eatery businesses amongst a indicate of sale solutions. The companionship inwards the dorsum of hits similar Snap has been exploring 3 other choices every bit a business office of an attempt led via partner Aaron Batalion to tremendously scale upwards the company’s activeness inside the area.

Sources predict that instead of creating an exclusively split fund, the companionship would attempt the newly raised fund in addition to salvage to a greater extent than or less of the cash crypto deals exclusively. But the concluding plans convey non been decided yet....MORE