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Franklin Templeton asset manager has recently raised $10 million for a pool of cash that, as revealed, will be utilized to invest in blockchain startups. The firm released a statement on Wednesday in a filing with the Securities and Exchange Commission (SEC) that it aims to raise $20 million for Franklin Templeton Blockchain I, L.P.
Franklin Templeton Raises Funds to Invest in Blockchain Venture Fund
As revealed in the official announcement, one of the largest asset managers in the world, said that the firm is planning to raise funds for its pooled venture capital fund, Franklin Templeton Blockchain Fund.
It is expected that the fund will be investing in startups based on blockchain and crypto space. However, at the time of writing this article, not much has been revealed regarding the fund and what it is going to do in the filling.
Well, if the $20 million amount is seen in contrast with the assets under management of the firm, it is a significantly low amount as the company manages assets worth over $1.5 trillion.
In addition to this, it should be noted that back in the month of August, Franklin Templeton made an announcement regarding the search for a crypto research analyst to join its team.
The job posting said:
“We are looking for an investment Research Analyst—Crypto Currency to provide research coverage for the largest, most liquid listed and tradable crypto-assets (e.g., BTC, ETH, etc).”
Analyst to Develop and Manage Crypto Asset Space
In accordance with the data released by LinkedIn:
“The Analyst will be expected to help develop and manage new products in the Crypto Asset space.”
Moreover, the firm has also made an investment in a digital asset data firm, Amberdata, as a segment of a $15 million series A funding round.
Back in the year 2019, the firm partnered with Curv, a cloud-based institutional wallet provider as part of a move to digitalize its shares.