One of Canada’s largest investment funds plans to use the Ethereum ecosystem for their new venture.
Ethereum Capital, a newly registered company created by the Canadian investment group OMERS, has already raised $ 50 million, and is now preparing for a reverse takeover procedure. The financing period will end on February 16, and then the company will begin investing in the block-start-ups and Ethereum tokens.
The main goal of the company is to become it as a “central business and investment hub for the Ethereum ecosystem”. Ethereum Capital plans to acquire controlling stakes in companies that developed their tokens on the blockbuster etherium.
The company also plans to sell 2 million subscription receipts, each worth $ 2.50, to fulfill the financing task.
When the goal is achieved, each share of the company, called Ethereum Share, will be replaced with shares of Movit Media Corp., which will later take control of Ethereum Capital, while the name will remain.
The company’s advisers include traditional investors and representatives of the block-start-ups. So, Liam Horn, a member of the company Vitalik Buterina, creator of Ethereum, will become a member of the board of directors of Ethereum Capital.
Joey Krug, director of Ethereum Capital and co-founder of the decentralized start-up Augur, said that the potential of Ethereum at the moment is largely not realized:
“The Ethereum network is just starting to show its potential, a huge number of transactions are carried out, and the application is created almost every day. I am sure that this will allow changing the state of many industries, and I am delighted to become an adviser to Ethereum Capital, because of their desire to benefit from the most promising companies through strategic acquisitions. “