Crypto Valley gets its own venture capital firm

Blockchain Valley Ventures (BVV) is both a venture capital firm and an accelerator, according to a statement announcing its launch. The firm has the backing of former executives from companies such as IBM and UBS.

Its aim is to support startups in the blockchain industry by providing them with capital investments as well as connections to other investors. Alongside investment and financing, it will also offer advisory services. BVV is supported by a number of companies, including the Zug-based fintech company Lykke.

BVV will employ a hybrid model for financing new companies: the traditional venture capital model and the newer Initial Coin Offering (ICO) model.

The new venture capital firm is located in Crypto Valley in Zug, the “world’s most advanced and experienced ecosystem of blockchain companies, blockchain-experienced lawyers, auditors, tax advisors, and financial regulators”. BVV’s initial focus will be on Swiss and European-based companies, with an expansion into other key global markets planned for the future.

“BVV’s core mission is to build bridges between startups and investors, assisting those projects which offer real, substantive benefits to the global digital economy and the blockchain sector as a whole,” said Oliver Bussmann, BVV Board Member and former Chief Information Officer at UBS.