Franklin Templeton Files For $20M Blockchain Venture Fund

Franklin Templeton asset manager has already raised $10 million for a pool of cash that will be used to invest in blockchain but now it also filed for another $20M for a blockchain venture fund so let’s read more in our latest blockchain news today.

The asset manager aims to raise $20 million in total according to the SEC filing. Franklin Templeton said in its filing that it raised $10 million for a blockchain venture fund and also said in a filing with the SEC that it was aiming to raise $20 million in total for the venture capital fund, Frankling Templeton Blockchain Fund L.P. it’s likely the fund will invest in startups in the blockchain space but no other details were provided about what the fund will do in the filing. The $20 million assigned for the planned fund is small and the company manages a total of $1.5 trillion in assets while becoming the latest traditional finance company to take a bigger interest in the fast-moving world of crypto.

A month ago, Franklin Templeton announced it is looking for a crypto research analyst to join the team:

 “We are looking for an investment Research Analyst—Crypto Currency to provide research coverage for the largest, most liquid listed and tradable crypto assets (e.g., BTC, ETH, etc). The Analyst will be expected to help develop and manage new products in the Crypto Asset space.”

The Job offer is still open to applicants according to LinkedIn and it also invested in Amberdata which is a digital data company as a part of the $15 million Series A funding round. The company actually had its eye on crypto for a while and in 2019 it partnered with cloud-based institutional wallet provider Curv in order to digitalize its shares. Franklin Templeton based in California was initially founded in New York City and has offices in more than 30 countries. It was named as the world’s worst-selling retail fund manager according to data by Morningstar.

The German asset manager Union Invest is the investment arm of the DZ bank group which is taking another small step towards offering crypto investments to private investors. They will make BTC a smaller percentage of some of their funds.
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As reported recently, portfolio manager David Barthe said that teh company is considering adding BTC to their funds in smaller amounts, comprising 1-2% of their portfolios and this will be starting an unknown date in Q4.