According to PANews, blockchain engineering company Equilibrium Group has launched its venture capital division, Equilibrium Ventures, and its first early-stage fund, Equilibrium Ventures Fund I. Mika Honkasalo, an investment partner of Equilibrium Ventures Fund I, revealed that the fund is seeking to raise 30 million euros (approximately 32.5 million dollars). It has already raised about 20% of the funds (6.5 million dollars) in the first round of financing and is expected to complete all fundraising by the end of this year.
Honkasalo stated that the fund's supporters include Equilibrium Group itself, Sebastien Borget of The Sandbox, Mask Network, and Jigeum Capital. Established in 2018, Equilibrium Group has been investing from its balance sheet since 2020. The establishment of a dedicated venture capital division has always been a long-term plan.