Three analysts quit their jobs at $6.3 trln international investment giant BlackRock to found a $20 mln venture capital fund Eterna Capital, which will focus on blockchain projects, Financial News reported May 2.
The $20 mln venture capital fund reportedly aims to attract institutional investors and will operate under the direction of Andrea Bonaceto, who established online recruitment platform HiredGrad in 2014. Bonaceto launched the fund in late April in partnership with Nassim Olive, Asim Ahmad, and Mattia Mrvosevic, who were earlier employed at BlackRock.
Eterna Capital aims to invest in blockchain solutions that target UN Sustainable Development Goals like world hunger, poverty, clean water, and affordable clean energy. Bonaceto said:
“One example is the disintermediation of banks in under-banked third-world countries, so people don’t need banks to get a loan, as the money can be held on the blockchain. Or selling solar power between neighbors, rather than relying on an energy firm, is another example of how blockchain can be used for social impact.”
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