Ethereum Capital Inc, One of the largest Canadian investment fund plans to raise $50 million to purchase a controlling share of Ethereum based Tokens and Startups. According to Ethereum capital Inc press release, the company has an objective to raise $50 million by Feb 16. To achieve this funding objective, the firm launched a private placement offering of 2 Million subscription receipts at a price of $2.5 each. The offering will be conducted by Can accord Genuity Corp. and CIBC Capital Markets. The firm anticipates raising gross proceeds of $50.0 million pursuant to the private placement Offering.
Once this funding objective is successfully accomplished, Ethereum capital Inc shares which are named as Ethereum shares are set to be replaced by Movit Media Company that will subsequently take over the Ethereum capital.
The firm is led by highly skilled and experienced group of individuals from both investments sector and technology. The new firm advisory team comprises of both representative from blockchain startups and also traditional investors. Vitalik Buterin a member of a team that created Ethereum will serve as an officer to the Ethereum capital Inc board, other notable board members include Liam Horne, Co-Founder of Counterfactual and L4 Ventures, John Ruffolo, Executive Managing Director of OMERS Platform Investments, Som Seif, Founder and CEO of Purpose Investments , and Joey Kruge Co-Founder of Augur and Co-Chief Investment Officer of Pantera Capital. Som Seif is now the Executive Chairman and Co-CIO of Ethereum Capital Inc