Apple Co-founder Steve Wozniak Starts Blockchain VC Fund

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Apple Co-founder Steve Wozniak Starts Blockchain VC Fund

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Apple co-founder and iconic tech personality Steve Wozniak is now the co-founder of a blockchain venture capital fund called EQUI Global according to business outlet Verdict. The move comes after Wozniak shared his plans to become a part of the blockchain revolution earlier in August this year.

Wozniak co-founded EQUI Global despite his reputation of being skeptical towards the rapidly emerging blockchain industry. He once went on to claim that the blockchain bubble was similar to the bubble of the late twentieth century. But, later he also claimed that only Bitcoin makes sense and “only Bitcoin is pure digital gold”.

His new blockchain initiative, however, aims to change the concept of non-institutional investments by allowing investors to trade on external cryptocurrency exchanges through Equi Tokens, the native currency of his project. The Equi tokens are reportedly based on the Ethereum Blockchain which is the most widely used blockchain platform for the development of decentralized apps (dapps).

According to Verdict’s publication, Wozniak aims to lure “sophisticated investors” who are willing to channel their investments through the Equi Token platform. The model is based on easy liquidation of cryptocurrencies and more than 80% of the VC fund’s investments will be done in tech companies.

Wozniak is upbeat about his new project and said EQUI Global’s mission is to”seek, support and fund the blockchain and tech stars of tomorrow”. He also announced that over 20 businesses have signed partnerships with the new VC fund but nothing official has been declared as of yet.

Wozniak said:

“I get ideas pitched to me every single day, in fact, dozens and I always say no. Since I co-founded Apple with Steve Jobs, this is about the second time in twenty years that I actually said yes,”

But, according to the EQUI Global website, the VC fund has been running for almost a year since Wozniak’s latest announcement signaling that blockchain investment had been in his mind for a while. Initially, the founders wanted to launch an ICO for the native EQUI token that could be used to raise capital on an individual project basis.

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