US-based peer-to-peer payments technology platform Circle is looking to raise $100m for a venture capital fund that will tap into the dealflow of its equity crowdfunding platform, SeedInvest, CoinDesk has reported.
The fund’s existence was revealed through a job vacancy for a general manager that was posted by Circle on professional social media portal LinkedIn.
Founded in 2013, Circle operates a peer-to-peer payment platform that uses the blockchain to facilitate the holding, sending and receiving of traditional currencies. The company originally supported cryptocurrency Bitcoin but has since removed this functionality.
Circle does not appear to have issued a statement about whether it plans to financially contribute to the fund itself, or what kinds of investors it is targeting as limited partners.
SeedInvest was acquired by Circle in March this year. The platform has grown to 250,000 individual and retail investors, who have backed more than 150 companies to date.
