Coinsilium Group Limited (AQSE:COIN) has updated on the establishment of its private crypto investment fund, Flowstone Capital Limited (FCL).
The blockchain venture and advisory firm said the Gibraltar-based fund would be used to manage cryptocurrencies and tokens paid to it in relation to fees earned from the provision of advisory services, in addition to bonus tokens granted in conjunction with seed-stage equity investments.
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The fund will be managed by Flowstone Management Limited (FML), a private company in Gibraltar that will act as the fund’s sole director and is wholly owned by Coinsilium.
FCL will take long-term positions in selected cryptocurrencies, whilst also acquiring newly issued tokens, and potentially equity, in blockchain start-ups in accordance with its investment criteria but will only be open to a small group of persons who are previously known to each other.
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Coinsilium added that it had appointed Gary Fisher, who had advised the firm on the creation of the fund, to the board of FML alongside its own directors Eddy Travia and Malcolm Palle.
Executive chairman of Coinsilium, Palle said that the establishment of the fund would accelerate its growth strategy, with the fund aiming to invest in “future leaders in the sector” and generate “material shareholder value”.