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BridgeTower Capital, Solana Form $20M Investment Fund
The fund will take equity stakes and tokens in projects designed to develop the Solana ecosystem.
BridgeTower Capital, a private-equity firm that invests in blockchain infrastructure projects, is forming a $20 million fund with the Solana Foundation to develop the blockchain network in the European Union, U.K. and Switzerland.
- The fund, the Solana and BridgeTower Capital European Ecosystem Fund, is already conducting due diligence on some projects, BridgeTower CEO Cory Pugh said in an email.
- It will back projects that are designed to run on the Solana blockchain or integrate with existing Solana applications, as well as those that help develop the Solana ecosystem. Backing could also include the use of server resources in Switzerland, where the Solana Foundation is based.
- “This partnership will provide focus to both BridgeTower and Solana in Europe on a number of high potential industries like banking and capital markets, manufacturing and supply chain, life sciences, e-government and public services,” Pugh said in a statement.
- In return it will take an equity stake in the project or tokens.
See also: Solana Foundation Leads $3M Investment in Blockchain Data Platform PARSIQ
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Sheldon Reback
Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.
