Blockchain cofounder joins Australian fund manager

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An Australian fund manager which specialises in blockchain investments has announced the appointment of blockchain cofounder Dr W. Scott Stornetta as chief scientist.

In a statement, First Digital Capital chair Deryck Graham said the fund will be the first blockchain fund in the country, adding that it had also established a presence in New York, Geneva, London and Hong Kong.

We are headquartered here but we are ‘local globally’, having established ourselves in or around the key centres of blockchain fund activity,” he said.

“When our first fund opens in the next few months it will be the first fund of its kind open to Australian investors, offering a regulated, professionally managed portal into the blockchain world.”

Dr Stornetta’s role with the business will be to both provide expertise on the technology and to vet potential investments.

“Blockchain is spoken about by many, understood by a few, but well executed by only a handful,” he said.

“Deryck is building a great investment team. To fully grasp the space and capture value for our investors, we will now complement his work by assembling a world-class research team. There will be some surprises there, so stay tuned.”

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