Quite lately, numerous traditional VCs are gradually diversifying their portfolios to invest in crypto-assets and blockchain technology projects, as well as launching crypto-centric funds.
Bertelsmann invests in Greenfield One
In this regard, Greenfield One, the Berlin-based early-stage Crypto VC firm, has launched in a first closing its second fund with a target volume of €50M. Bertelsmann Investments and leading German family office Lennertz & Co. are among the first investors.
Founded in 1835 in Gütersloh, Germany, Bertelsmann is a media, services, and education company that operates in about 50 countries around the world. It has a vast portfolio including broadcaster RTL Group, the trade book publisher Penguin Random House, and music publisher BMG.
How will the second fund be used?
For now, Greenfield One aims to invest in the fundamentals of Web 3.0: The fund focuses on crypto networks and developer teams that use blockchain-based technology to create the infrastructure for Web 3.0 as a fundamental asset layer on the internet. This portfolio is targeted to hold about 25 investments. It’s worth mentioning that the second fund is regulated under German BaFin.
Sebastian Blum, founder and partner, Greenfield One, says, “We have decided to launch our funds in Germany, as this is where secure regulation and political openness for crypto and blockchain come together.”
First fund in 2019
The crypto VC firm launched its first fund in early 2019. Since then, the team has invested in various early-stage seed rounds including, NEAR, Celo, Spacemesh, Vega, Multis, Arweave, Dapper Labs, and 1inch.
About Greenfield One
Founded by Jascha Samadi, and Sebastian Blum in 2018, the fund makes long term investments in early developer teams, building towards an open, decentralised, and more robust architecture of tomorrow’s web.
The German company that invests in teams and projects with a European footprint follows a research-driven investment approach. It also actively participates in the portfolio’s Crypto Networks through its technical infrastructure.