Venture Capital Firm First to Issue Own Digital Tokens

A venture capital firm based out of San Francisco is raising part of its third fund through an Initial Coin Offering. The ICO is expected in two or three months, and the VC Firm will eventually release more details about the ICO. It Sounds like these guys are the first to use this technique to raise part of a fund. Even though I'm not too familiar with the ICO process, I'll definitely keep an eye on this. Seems to be an intriguing concept.

Blockchain Capital LLC , which backs startups that use the technology best known for supporting bitcoin, plans to raise a new $50 million fund partly by issuing its own digital tokens, becoming the first venture fund to do so.

“We think this is the future of venture capital,” Pierce said. “We’ll be the first in the world to do this. We want to democratize venture capital.”

Anyone familiar with this and able to discuss this in more detail?

Reference: VC Firm Raises Fund With Digital Tokens