Bluehill is ready to support IOST with its $50 million fund

22 Jun, 2018
by Fifi Arisandi
Bluehill is ready to support IOST with its $50 million fund

After raising $50 million, Bluehill, a startup incubator for global blockchain projects, is launched. 

A new startup incubator has just launched recently and currently taking applications from startups all over the world on a rolling basis and on average investment amount of $500,000 for a project. Quoting the company, the investment will be both seed investments of $100,000 and follow-on investments in the low millions.

Bluehill, the name of the startup incubator, is backed with $50 million fund to support global blockchain projects that are built on the IOST ecosystem. However, in an email to CoinDesk, the company said that it welcomes all projects, regardless of whether they're built on IOST. 

The fund will be used to back the finance, marketing, and recruitment aspects of startups and as the company said, "Our focus is on backing the best teams early and aligning our interests with theirs right from the start so that we can build trust and familiarity with the most enduring companies."

According to the website, Bluehill has invested in seven decentralized application thus far, on which two of them are built on the IOST blockchain while the remaining are not committed to a single blockchain protocol. 

Related to the investment activity, the newly-launched incubator claims it will work together with Binance Labs and Huobi Capital. With 50 staff members and offices in Beijing, Seoul, Singapore, Berlin, and San Fransisco, Bluehill aims for over 100 employees by the end of 2018.

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