Cryptonitix 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 CryptoNitix 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 CryptoNitix's ongoing global expansion. In recent months, the fintech company has acquired banking licenses in at least 10 European countries.

Read more about

Martyn Landi

Martyn Landi is a savvy blockchain content writer with about 5 years of experience. He helps crypto brands gain visibility by creating content with a tone, voice, and style that aligns with their vision and goals. When he is not writing or tweeting about cryptocurrencies, NFTs, web3, or metaverse, he is either cycling, watching movies, or reading other content.