A Case of Brain-Drain? Indian Investors Set Up Multi-Million Dollar Cryptocurrency Fund in USA
Despite India’s strict stand on cryptocurrencies, native entrepreneurs and blockchain enthusiasts are stopping at nothing to play their part in the burgeoning sector.
While some cryptocurrency businesses are shifting base or launching litigations against the government, a small group of influential investors from the country have launched B1T Capital – a U.S.-based incubator focused exclusively on cryptocurrencies.
As per SEC records, the fund was registered on June 26, 2018, in Salt Lake City, Utah, and has raised “close to a million dollars” from undisclosed investors. The entity will exclusively invest in cryptocurrency startups registered in the U.S. via private presales.