Charles Stack’s Flashstarts business accelerator is creating a $6 million, pre-seed investment fund for blockchain-based startups.
This new venture capital fund will make equity investments in promising early-stage startup companies with a particular focus on companies using blockchain technology, Flashstarts CEO Stack said in a statement.
"The combination of investment and access to beta customers will attract the best new blockchain companies to our portfolio," Stack says. "Blockland is creating an extremely inviting ecosystem for new blockchain companies. Our new fund will be able to leverage those efforts to the benefit of our investors and our entire region."
The new fund, which had scheduled an information session for accredited investors in November, was formally announced at the Blockchain Solutions Conference in downtown Cleveland. It will be open only to accredited investors with $1 million in net worth or $200,000 in annual income. The minimum investment is $25,000 for individuals and $100,000 for organizations, according to the statement. In addition to sharing in investment returns, investors will receive early access to a broad range of new blockchain technologies relevant to their lives and businesses.
The Blockchain+ Fund is one of the few U.S. blockchain funds not based in San Francisco or New York City, and and one of very few early-stage blockchain funds in the world. Flashstarts has scheduled a Dec. 19 informational meeting at StartMart in Terminal Tower.
We spoke with Stack last summer for Dealmakers Live to learn more about his approach to dealmaking.