On Tuesday, reports regarding the notorious Facebook investor and venture capitalist Peter Thiel and his Founders Fund was revealed. According to sources familiar with the matter, Thiel’s fund has made an investment in the startup Tagomi, a firm that plans to execute cryptocurrency buy and sell orders as a brokerage service dealing with institutional investors and family offices.
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Peter Thiel’s Founders Fund Helps Inject $15.5 Million in Capital Into the Cryptocurrency Startup Tagomi Systems
The Peter Thiel Founders Fund is betting that institutional investors want to get in on bitcoin and cryptocurrency markets. Thiel’s venture-capital firm maintains the biggest portfolios in Silicon Valley and just recently it made an early-stage investment in Tagomi Systems Inc. The Wall Street Journal reports that Tagomi is a startup that aims to provide electronic-trading guidance to cryptocurrency investors. Tagomi is a startup based out of New York, and the company just filed a Form D notice with the Securities and Exchange Commission (SEC) on March 15.
The report on May 1 details that the Founders Fund was involved in a funding round for Tagomi that resulted in $15.5Mn USD. The publication did not detail whether or not the Founders Fund led the seed round, and details on Tagomi’s business model is relatively unknown. However, the recently filed Form D with the SEC shows that the Founders Fund managing partner, Napoleon Ta, is named as one of Tagomi’s directors. According to reports Tagomi plans to facilitate high-speed electronic brokerage services with cryptocurrencies to institutional investors and family financial management services alongside over-the-counter (OTC) operations.
Long on Cryptocurrencies: Tagomi Systems is the Founders Fund’s Fourth Cryptocurrency Venture
