PANews reported on June 13 that according to The Block, blockchain engineering company Equilibrium Group has launched its venture capital arm Equilibrium Ventures and its first early-stage fund, Equilibrium Ventures Fund I. Mika Honkasalo, investment partner of Equilibrium Ventures Fund I, revealed that the fund is seeking to raise 30 million euros (about 32.5 million U.S. dollars) and has raised about 20% of the funds (6.5 million U.S. dollars) in the first round of financing, and it is expected to complete all fundraising by the end of this year. Honkasalo said that the fund's supporters include Equilibrium Group itself, as well as Sebastien Borget of The Sandbox, Mask Network and Jigeum Capital. Equilibrium Group was founded in 2018 and has been investing from its balance sheet since 2020. The establishment of a dedicated venture capital department has always been a long-term plan.
