Venrock, a venture capital firm created by John D. Rockefeller’s family is investing in cryptocurrencies.
The three billion dollar firm will be investing in the cryptocurrency market and projects. Founded in 1969, the grandson of John D. Rockefeller brought his siblings together to form the company. The company started with a one million dollar capitalization, but after multiple successes, they’ve grown into a huge three billion dollar firm.
Venrock is known for its abilities to find extremely successful start-ups. Their long list of clients is very impressive. They’ve invested in Intel and Apple before they were household names. Even recently, they’ve had prominent success. Nest and the Dollar Shave Club are clients of Venrock, and they’ve grown to be multi-billion dollar firms.
Since Venrock has such impressive success, cryptocurrencies being added is a huge sign. They’ve done their research and have found crypto to be a huge space in the future. This is an extremely bullish sign. Many venture capital firms will follow in Venrock’s footsteps, investing in crypto.