Blockchain startups? Here’s new $50 million fund launched, backed by HTC

As blockchain increasingly turns ubiquitous globally with businesses across sizes and governments adopts the technology for better transparency, security, speed at reduced costs in operations, venture capital investors also are jumping into the fray by making early bets on ideas that have the potential of scaling big.

The latest among them is Proof of Capital — a $50 million fund to back blockchain startups globally, HTC said in a statement. The fund is launched by the creator of HTC’s Vive VR headset Phil Chen, Edith Yeung who earlier headed early stage VC and accelerator 500 Startups $10 million fund, and Chris McCann who was head of community at the US-based VC firm Greylock Partners.