The Rockefeller family’s venture-capital arm is moving into cryptocurrencies. Venrock (“Venture” plus “Rockefellers”) is partnering with the cryptocurrency investor group, CoinFund, to help entrepreneurs launch blockchain-based businesses.
“We wanted to partner with this team that has been making investments and actually helping to architect a number of different crypto economies and crypto token-based projects,” Venrock partner David Pakman told Fortune.
Venrock reportedly has $2.6 billion in assets under management. The Rockefeller dynasty is one of the richest families in the world, with an estimated net worth topping $1 trillion.