Benson Oak Raising $100 Million for Blockchain-Focused Fund

Benson Oak, a Prague-based investment bank, has announced it is raising $100 million to launch an investment fund dedicated to the Israeli market with a focus on blockchain startups.

According to a report from Israeli media outlet Calcalistech on Sunday, the new investment arm, called Benson Oak Ventures, has already secured $25 million and aims to reach the goal of $100 million by the end of this year.

The new venture’s capital will come from private investors and family offices, excluding institutional investors, the report said. With a focus on seed-stage blockchain and consumer-facing startups, Benson Oak said in the report it anticipates to release the names of two portfolio companies in the coming days.

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According to Benson Oak Ventures’ website, the fund will be interested in blockchain startups which can offer consumer products or create a platform that enables community growth, in an effort to boost blockchain’s use at a consumer level.

Currently several ongoing blockchain application initiatives in Israel are mostly taken by large financial institutions that focus more on a business-to-business setting.

As previously reported by CoinDesk, Bank Hapoalim, Israel’s largest bank, is working with Microsoft to develop a blockchain-based platform for creating digital bank guarantees.

Meanwhile, the Tel Aviv Stock Exchange (TASE) is also teaming up with Accenture to build a blockchain securities lending platform aimed to allow direct lending of all financial instruments.

Israeli shekels image via Shutterstock

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