San Francisco-based Ripple, which provides blockchain solutions for the payments industry, announced it invested $25 million of its own cryptocurrency, XRP, in Blockchain Capital‘s fourth fund. Blockchain Capital, which focuses on the blockchain technology sector and crypto ecosystem, announced in March it closed its fourth fund with $150 million in commitments. Ripple’s investment is part of the $150 million total. Ripple is a portfolio company of the San Francisco firm.
Patrick Griffin, senior vice president of strategic growth at Ripple, said in a statement: “This is the first fund that we’ve contributed to, and it won’t be the last. We plan to be major players in shaping the future generation of blockchain or crypto companies.”
Source: Ripple press statement