The leading investment firm in Bahrain, Investcorp launched the first institutional level fund, ‘eLydian Lion’ dedicated to blockchain technology-based startups in the GCC, led by Investcorp’s Abu Dhabi office.
This investment will be deployed globally and provide financial support to companies working on the “next digital evolution driven by blockchain technology”.
According to the blog post, this fruitful investment will allow investors to be a part of the rapidly growing blockchain ecosystem, which is also a key factor in the digital transformation of the global economy.
The fund will specifically focus on early-stage companies emerging around the blockchain ecosystem such as blockchain infrastructure, platforms and exchanges, decentralized finance, and data analytics.
Hazem Ben-Gacem, Co-Chief Executive Officer at Investcorp, said “Offering our clients innovative and bold investment ideas, backed by our disciplined and proven approach, has been a key element of our success over the last four decades. We have a strong track record in technology investment and will bring our institutional expertise and global reach to bear on this fast-growing area of technology.”
eLydian Lion will be independent of Investcorp Technology Partners as well as Investcorp’s leading investment strategy focused on lower mid-market technology opportunities.
By keeping an eye on the upcoming Web 3.0 revolution and decentralized finance, many firms have rolled out new initiatives to fulfill the future demand through blockchain technology.
Some recent news states that Abu Dhabi intends to become a hub for emerging crypto sectors. Recently, one of the largest crypto exchanges Binance Holdings got a green light for in-principle approval (IPA) from Abu Dhabi Global Market (ADGM) to operate as a broker-dealer in virtual assets.
