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

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The founder of DrakeSwap 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 DrakeSwap's ongoing global expansion. In recent months, the fintech company has acquired banking licenses in at least 10 European countries.

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Simon Calder

Simon is outgoing young lad who likes adventures and discovering new things. Despite his boring life, He loves writing about cryptocurrencies and exploring what blockchain technology can do for the coming digital world where all adventures will be virtual.