Blockchain-Focused Fund COSIMO X Acquires Seven-Figure Funding from RIT

Shine Li   Jul 15, 2020 04:42 2 Min Read

COSIMO Ventures, an investment firm situated in Boston and Dublin, recently announced that the Rochester Institute of Technology (RIT) has endorsed them with a seven-figure investment.

The company disclosed in a recent securitized announcement with that the venture capital firm was working on developing their new blockchain-focused tokenized trust, dubbed COSIMO X.

Managing Partner of COSIMO Ventures, Robert Frasca asserted that this was the first time any university in the United States had ever directly invested in a tokenized venture fund, making RIT the first university to hold a direct tokenized economic interest in a digital security firm. He also went on to express on behalf of COSIMO Ventures that with RIT’s funding, the investment firm hoped to achieve new heights of growth and breakthrough in the development of decentralized software protocols.

The Managing Partner also backed the newly instilled blockchain-focused tokenized fundCOSIMO Xand expressed this as a great opportunity of growth for his firm’s investors:

“We believe that the growth that we can foster as an investment firm will be what really resonates with our investors. Once the market fully understands the benefits of tokenization as it relates to fund investing, a structure like ours might become the market standard.” 

Blockchain Future Powered by COSIMO X

COSIMO X, the blockchain-driven fund developed by COSIMO Ventures, is focused on investing in emerging businesses that utilize digital assets and blockchain protocols. Through these means, they hope to fuel and help the growth of the emerging digital economy. With exposure to companies working in regulatory technology industries, new digital asset creation sectors, and market infrastructure platforms, the COSIMO X fund is focused on utilizing financial technology as a tool to revolutionize and dominate the market.

COSIMO X Tokens, which are utilized on the blockchain platform, are representative of economic interest in the evergreen fund in this case and are found via the Securitize powered COSIMO X website. The tokens can be purchased by institutions, international investors, and US accredited investors.

Ethereum and Venture Capital

With fintech on the rise, startup companies that are funded by venture capital firms are integrating blockchain platforms more and more into their business ecosystem. As reported by Leadblock Partners, Ethereum seem to be a popular choice among European blockchain startups. Companies favor this particular blockchain network, because it offers robustness, scalability and overall stable architecture.

Image source: Shutterstock

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