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BitMEX joins its rivals in launching its own VC arm

by Frank Chaparro

November 8, 2018, 12:44PM EDT  ·  2 min read

Quick Take

  • BitMEX Ventures is led by Kumar Dandapani, a former partner at Nth-Degree Analytics, a quant research, and development firm
  • BitMEX Ventures has invested in Blockfolio and was set to participate in a fundraising round for FRST, a cryptocurrency data technology company, according to a source
  • Other exchanges that have launched venture arms include Coinbase, Huobi, and Binance

by Frank Chaparro

November 8, 2018, 12:44PM EDT  ·  2 min read

Seychelles-based BitMEX, a platform that offers peer-to-peer trading of leveraged bitcoin contracts, has joined its rivals in launching a venture-capital unit to identify potential crypto firms to invest in, The Block has learned.

The new arm of the firm, which has not been previously reported on, is being led by Kumar Dandapani, global head of BitMEX Ventures.