Ripple (available on Binance) invested $25 million worth of XRP into the $150 million blockchain fund created by Blockchain Capital. Blockchain Capital, a venture capital firm dedicated to blockchain technology, designated Ripple (available on Binance)’s investment to its own special purpose vehicle called the Blockchain Capital Parallel IV, which accepts cryptocurrency investments only.
A spokesperson for Blockchain Capital explained to Fortune that they “created the parallel fund to separate [their] other LPs from the risk of any change in valuation associated with accepting Ripple (available on Binance)’s investment in XRP.”
Blockchain Capital’s acceptance of XRP makes the venture firm one of the first to accept capital calls in digital assets.
“This is the first fund that we’ve contributed to, and it won’t be the last,” stated Patrick Griffin, senior vice president of strategic growth for Ripple (available on Binance).