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16 Sep Franklin Templeton Files for $20 Million Blockchain Venture Fund

Posted at 17:34h in Blogs by Piyush
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Franklin Templeton, one of the world’s largest asset management companies, stated in a document submitted to the US Securities and Exchange Commission that it has raised $10 million through a blockchain venture fund and targeting a total of 20 million US dollars to pool its venture capital fund Franklin Templeton Blockchain Fund

In a filing Today , asset management Franklin Templeton announced it had raised $10 million for a blockchain innovation fund.

In a statement with the Securities and Exchange Commission on Wednesday, the business, one of the world’s largest asset managers, said it hoped to raise $20 million for its pooled venture capital fund, Franklin Templeton Blockchain Fund .

It’s probable that the fund will invest in blockchain and cryptocurrency businesses. In the application, there were no additional specifics about what the fund will accomplish.

The $20 million set aside for the proposed fund is still a modest sum when compared to the company’s overall assets of $1.5 trillion. It’s the latest “conventional finance” business to become more involved in the fast-paced world of digital assets.

Franklin Templeton stated last month that it was hiring a bitcoin research analyst to join its staff. They stated that they are looking for an investment Research Analyst—Crypto currency to offer research in assests like BTC, ETH etc.

“The Analyst will be required to assist in the development and management of new Crypto Asset products,” it continued. According to LinkedIn, the job offer is still available.

In a $15 million series A investment round, it also invested in Amberdata, a digital asset data firm.

But the company has had its eye on cryptocurrency for some time: in 2019, it collaborated with Curv, a cloud-based institutional wallet provider, to digitalize its shares.

Franklin Templeton was formed in New York City and has offices in 34 countries. It is located in San Mateo, California. According to Morningstar data, it was dubbed the world’s worst-selling retail fund manager last year.

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