A group of experienced investors from the digital universe has launched Australia’s first dedicated Bitcoin fund – the Future Capital Bitcoin Fund (FCBF) – loaded with $30 million that should be invested on a global scale in companies that are currently offering cryptocurrency-related services.
The investment firm, headed by the well-known entrepreneur and investor Domenic Carosa, is headquartered in Australia.
According to the fund’s chairman and co-founder, “Bitcoin has the potential to dramatically alter the manner in which transactions take place across the globe and the power to create new modes of financial connectivity, seamlessly across borders”.
The FCBF, which has been operational since May, intends to source opportunities across the planet for companies meddling in the digital currency ecosystem. The fund is currently accepting global investments in Australian dollars, US dollars, RMB and Bitcoin, but is also looking for new companies interested in applying for funds, the site FutureCapital recently reported.
“This is a very exciting opportunity for global investors to participate in the Bitcoin ecosystem via Future Capital’s Bitcoin Fund. Australia has a low sovereign risk and a globally trusted financial system”, Carosa added.
We view the emerging Bitcoin ecosystem as an investment opportunity that has transformative potential across a raft of social, technology- based and cultural applications and we see great scope for the broader adoption of Bitcoin and its related applications to redefine the global payment status quo.
The fund’s chairman is supported by a team of investors with more than 50 years of collective investment and funds management experience, such as the company’s investment manager, Holger Arians. He says “the concept of a global cryptocurrency is probably the most disruptive innovation I have seen in the last 10 years. I believe that Bitcoins will change the way we live, travel and do business”.
The investors working with the Australian fund will get full tax free returns on income and capital account, as the FCBF is registered as an Early Stage Venture Capital Limited Partnership (ESVCLP) under the Australian Venture Capital Act 2002.