Equilibrium Group Launches Equilibrium Ventures, Its First Fund Plans to Raise Over $30 Million

Blockchain engineering firm Equilibrium Group has launched its venture capital arm, Equilibrium Ventures, and its first early-stage fund, Equilibrium Ventures Fund I. Equilibrium Ventures Fund I investment partner Mika Honkasalo revealed that the fund is seeking to raise €30 million (about $32.5 million) and has raised about 20% ($6.5 million) in the first round, and expects to be fully funded by the end of this year. Honkasalo said that the fund's backers include Equilibrium Group itself as well as Sebastien Borget of The Sandbox, Mask Network and Jigeum Capital, among others. Equilibrium Ventures Fund I has not yet begun to deploy its capital, but expects to be fully deployed within the next 24 months. The fund will invest in equity and token projects, but is expected to support projects that will eventually issue tokens. The average investment amount per startup will be between $250,000 and $1 million, mainly used to support pre-seed and seed rounds, as well as some Series A startups. (The Block)