COSIMO Ventures, an investment firm based in Europe, is taking a focus on blockchain and other emerging technology, a press release from the group notes. The group has received a seven-figure investment amount to back this up, from the Rochester Institute of Technology (RIT), which will head into its COSIMO X tokenized fund based on the blockchain.
Interestingly, this is the first time a United States group has invested in a “tokenized venture fund,” state Robert Frasca, the Managing Partner of COSIMO Ventures. While other groups are invested in blockchain and such, this is the first time a group in the US has invested in a digital security format.
Speaking on the matter is James Watters, the senior vice president of finance and administration at RIT, who says:
“As industry leaders, not only is it important for us to invest in businesses advancing cutting-edge technologies, but it is essential to adopt such technologies as a means by which we invest. We are impressed by the entrepreneurial experience and forward-thinking mindset of the COSIMO team and their innovative approach to venture investing. The team’s deal flow has sourced unparalleled investment opportunities and the fund has one of the most appealing economic structures in the market today.”