Draper Goren Holm has launched principal close of Fund 1, the studio’s first traditional venture fund of $25 million where Seed and Series A investments will take precedent in promising fintech and blockchain startups.
Fund 1’s investment strategy is a continuation of the venture studio’s successful blueprint of being the first check into novel early-stage projects, to which they can now double and triple-down, and provide further monetary and post-check value for new and existing portfolio companies. Although the geographical scope is international, with a local presence in Los Angeles, California, Draper Goren Holm will now focus more on Europe with a new office opening in Vienna, Austria in December of 2020. The new fund will start to invest immediately.
“This first close was a sort of ‘friends and family’ round,” added Alon Goren, Founding Partner of Draper Goren Holm. “Alongside Tim Draper and other individual friends investing in us again, other blockchain funds like Blockchain Founders Fund and the Keiretsu Capital Blockchain Fund of Funds participated.”
In addition to producing the world’s largest blockchain conference, Draper Goren Holm has been operating a blockchain venture studio that actively accelerates and incubates early-stage startups. The venture studio, which now has 18 portfolio companies, has seen tremendous internal growth, primarily in the decentralized finance (DeFi) and the security token and digital securities sector, and as a result, has positioned itself as one of the top venture funds in the industry.
“I’m thrilled to participate in Draper Goren Holm’s Fund 1 as the team continues to maintain their dominance in Los Angeles, and soon, internationally,” said Tim Draper, Special Limited Partner of Draper Goren Holm. “Our premier blockchain conference and accelerator has proven to funnel some of the industry’s top talent and entrepreneurs, and this new fund will allow us to double and even triple-down on our favorite projects.”
Aside from Draper Goren Holm’s hands-on approach to venture building, it is a member of the Draper Venture Network, a global network of venture capital funds which not only provides portfolio companies with unparalleled distribution, but also a dedicated support staff in Silicon Valley.
Commenting on its international expansion, Josef Holm, Founding Partner at Draper Goren Holm, added, “Europe is becoming a major hub for FinTech, and more specifically, blockchain innovation. It’s incredible to see how pro-crypto and blockchain European governments have become the last couple of years as their favourable regulations have attracted a flock of talented and diverse entrepreneurs building incredible projects across Vienna, Zug, and Berlin, to name a few. Fund 1 will capture this ever-growing market and Draper Goren Holm will expand its value-add beyond our initial home borders of Los Angeles.”
“Every entrepreneur needs a group of talented investors, advisors and coaches beside them from day one. In the blockchain space, that becomes even more important because every project begins with global aspirations that demand even great expertise and experience. That’s exactly what Draper Goren Holm offers its entrepreneurs,” said Matthew Le Merle, Managing Partner of Keiretsu Capital.