News ConsenSys Strategy Chief Steps Down to Launch Venture Fund

ConsenSys Strategy Chief Steps Down to Launch Venture Fund

-

- Advertisment -

ConsenSys chief strategy officer Sam Cassatt is stepping down to launch a new venture fund, Aligned Capital, with the backing of ConsenSys founder Joe Lubin. ConsenSys said Cassatt will stay on with the ethereum venture studio in an advisory capacity.

Speaking Friday at San Francisco’s TransTech Conference, Cassatt said his fund is seeking to raise $50 million for its first round. Aligned will focus on emerging technologies including artificial intelligence, healthcare, cryptocurrency and blockchain, according to a statement from Cassatt.

In a blog post published Friday, Cassatt said the fund is “designed to anticipate civilization-scale, evolutionary changes in human behavior.”

Also backing Aligned is DARMA Capital managing partner Andrew Keys, another former ConsenSys executive. The amount of Lubin and Keys’ capital participation was not disclosed.

Although wholly separate from ConsenSys, Cassatt is looking to apply similar principles employed by his former firm, Cassatt said in a phone interview. While Aligned is still in its infancy, Cassatt said it’s looking to tackle societal issues such as safe artificial intelligence and mental health in the digital age.

“Not only [are we] looking for that societal change, but [we are] noticing that institutions … are no longer serving their purpose,” Cassatt said. “I think we are at a crisis point.”

Joining as an advisor to Aligned Capital is Nichol Bradford, the executive behind the Transformative Tech Lab organizing the Friday event in San Francisco. Nicholas Paul Brysiewicz, the director of development at the Long Now Foundation, is also listed as an advisor. The Long Now Foundation is best known as the entity building the 10,000 Year Clock inside a mountain in western Texas. Angel investor Seth Goldstein will be a venture partner, Cassatt said.

As to the new fund’s long-term vision, Cassatt offered this:

“You can come up with a lot of things as to why something would make some money. We are looking at where there are these momentous stepwise changes.”

Sam Cassatt speaks at Ethereal Summit NY 2019, photo by Brady Dale for CoinDesk

Source

ConsenSys Strategy Chief Steps Down to Launch Venture Fund
CoinDeskhttps://www.coindesk.com/
CoinDesk is the leading digital media, events and information services company for the digital asset and blockchain technology community. Its mandate is to inform, educate and connect the global community as the authoritative daily news provider dedicated to chronicling the space.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Bitcoin and Other Cryptocurrencies – How Their Values Fluctuate

Are you interested in knowing more about Cryptocurrencies? Have you been surprised by the value of Bitcoin...

Understanding The Viability of Blockchain in Supply Chain Management

With the advent of modern technology, the business dynamics of various industries have evolved and transformed in...

Top 7 Porn Sites That Accept Bitcoin/Crypto

Bitcoin and other cryptocurrencies are not that exotic anymore. Ever since the big boom on the crypto...

“Chinachain” aims to connect hundreds of cities across China. Will it work?

If there’s ever a “Chinachain” for business, sanctified and supported by the state, the BSN ( Blockchain...
- Advertisement -

Top 10 BEST Crypto Trading Books for New Traders (2020)

We may receive a small revenue share if you purchase something from this guide - with...

Crypto Firm That Connects Exchanges and Banks Receives $5m Investment From Wells Fargo

Cryptocurrency startup Elliptic recently held a Series B funding round which was joined by a venture arm...

Must read

Bitcoin and Other Cryptocurrencies – How Their Values Fluctuate

Are you interested in knowing more about...

Understanding The Viability of Blockchain in Supply Chain Management

With the advent of modern technology, the...
- Advertisement -ConsenSys Strategy Chief Steps Down to Launch Venture FundConsenSys Strategy Chief Steps Down to Launch Venture Fund

You might also likeRELATED
Recommended to you