VC investor IVP is turning its interests towards cryptocurrency by supplying its sixteenth fund worth $1.5 billion allocated for investments in cryptocurrency-related ventures.
IVP distinguishes the leading cryptocurrency wallet based on its growth curve, as well as its resilience to the risk of falling of both the bitcoin and Ethereum, which are the cryptocurrency’s two best known currencies.
“Our thesis is it’s here, it’s real, it’s growing and needs infrastructure,” IVP general partner, Todd Chaffee, says.
Chaffee adds that IVP plans to inject further cryptocurrency investments in the future.
IVP issues funding check sizes worth $40 to $50 million into companies that raised two or three funding rounds.
The firm is already an investor in big-name startups like Domo, Dropbox, and The Honest Company and Slack.