Circle Hiring a General Partner to Raise $100M Venture Fund
Circle Internet Financial, a leading fintech company offering institutions and individuals a platform to trade cryptos and raise capital, is looking to hire a general partner to help raise and deploy a new $100 million venture fund in collaboration with SeedInvest, according to reports on August 23, 2019.
Circle to Raise $100 Million
According to its LinkedIn post, Circle is interested in adding a qualified General Partner to its team.
The firm says the General Partner will be responsible for raising and establishing a new $100 million venture capital fund in collaboration with the senior leadership team at SeedInvest.
As reported by BTCManager earlier in March 2019, Circle completed the acquisition of SeedInvest, as part of larger plans to put in place a robust token marketplace that would enable institutions as well as individuals to easily raise capital.
At the time, Circle made it clear that despite the acquisition, SeedInvest will keep operating in line with its existing business model, just that it will now be receiving additional support from the former.
Established in May 2011, SeedInvest is an equity crowdfunding platform that claims to provide investors with access to juicy, highly-vetted startup investment opportunities.
Since its launch, SeedInvest has made an impressive 162 investments in various startups including TrailFork, with a network of 15,00 accredited investors that includes family offices and highly reputed institutions.
Key Requirements
Per Circle, the ideal General Partner must have previously functioned as a Principal or Partner at a leading venture capital firm, as he/she will be expected to be able to formulate robust investment thesis that will take advantage of SeedInvest’s deal flow and network of 250k to maximize returns.
Circle says:
“The Ideal General Partner will be in charge of running the day-to-day operations of the fund, lead fundraising efforts, a source for investment opportunities, while also building and managing the entire investment team.”
It’s worth noting that Circle is one of the firms working hard to ensure broader adoption of bitcoin and other cryptocurrencies.
In September 2018, Circle partnered with Centre.io to launch the USD Coin (USDC), a genuine stablecoin.
Despite its sterling track record, Circle has also experienced its fair share of turbulence.
Earlier in March 2019, when the crypto market was still struggling to overcome the prolonged “crypto winter,” Circle announced plans to raise $250 million in funding to enable it to survive the market crash.
