German’s Xolaris Service KVAG Debuts Private Equity Fund Based on Bitcoin Mining
Today, the market gets red again and the overall crypto market has experienced the loss of $6 billion as it declined from the total valuation of $142 billion to $136 billion. Despite the worst conditions, few businesses are betting high on bitcoin and the distributed ledger system.
The latest press reveals that one of the private equity firms from German is focusing on the potentials of bitcoin mining. Consequently, an investment fund manager called Xolaris Service KVAG is launching a private equity fund solely for Bitcoin mining. As a result, the firm is planning an initial fund of $50 million, targeting Asian investors. With the launch plan, the firm has already set up its office in Hong Kong in July.
Xolaris is all set to launch European mother fund this week and will begin the subscription for the Asia fund in this month (December 2018).In order to begin the operation, the firm plans to raise the fund ranging from €30 billion to €50 billion, expecting 21 percent as its total…
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