Bitgoex will launch an ai-based venture capital fund with $20 million in assets

Crypto Regulation
DCG and Barry Silbert hit with securities lawsuit 

The founder of BitGoex announced the creation of a venture capital fund based on artificial intelligence with assets worth about $20 million, Forbes reports.

The fund will use machine learning to identify promising startups and fund them in Series B and C rounds.

According to the creator, this model is designed to eliminate "the limitations of the venture capital world, where decisions are made based on the mentality of the crowd".

At this stage, the project team includes six engineers who analyze LinkedIn, corporate documents and other databases to identify high-growth startups.

The decision to launch the fund comes as part of BitGoex's ongoing global expansion. In recent months, the fintech company has acquired banking licenses in at least 10 European countries.

Read more about

Johanna Chisholm

Johanna is a very active blockchain and cryptocurrency content creator and highly regarded Technical Analyst. He is a Mechanical Engineer by profession and an activeTrader, whose first encounter with Bitcoin was in 2015—and by accident. Ever since, it has been an exciting journey where life-long friendships have been forged, and careers made and strengthened.