Everyone is talking about supply chain tracking and institutional investors also seem to be convinced of this use case. A newly established venture capital fund invested in a start-up in this area.
The French blockchain start-up Connecting Food has successfully completed a round of financing. The majority of the income of EUR 2.1 comes from the newly founded leadBlock venture capital fund. Connecting Food offers a solution for blockchain-based tracking of food.
According to the blockchain portal Ledgerinsights, the start-up already has a range of customers. These include the U.S. sweets manufacturer Mondelēz and the German meat company Herta. LeadBlock, however, made its first own investment in this financing round.
Goldman Sachs veterans establish blockchain mutual funds
Three partners founded LeadBlock in 2019. Two of them previously worked for the investment giant Goldman Sachs. The aim of the new venture capital fund based in London and Paris is to promote European blockchain start-ups. Both companies that rely on centralized permissioned blockchains and companies that opt for the public option are to be supported.
According to Ledgerinsights, LeadBlock wants to build up a fund of 30 million euros in the long term. For the investment in connecting food, however, the fund used funds that it had previously raised from wealthy private individuals from the LeadBlock environment.