Chinese investment group and fund AngelVest launches a fund for crypto currencies and intends to invest in artificial intelligence development startups and projects in Estonia. Co-founder of AngelVest Fund David Chen visited Estonia and met with the representatives of the Parliament, leading Estonian businessmen and scientists to determine the way of the forthcoming cooperation.
David Chen, a seasoned entrepreneur and business leader focusing on early-stage and cross border opportunities in China, concluded a cooperation agreement with the head of the G-Global Business Portal, Denis Tsyro. Denis Tsyro develops a consulting marketplace platform where experts from around the world can assemble into a team for a startup or an ICO. Cooperation with the G-Global Business Portal will open AngelVest the opportunity to enter the market of Scandinavia and will allow to invest through the Portal in the companies that started modernization and digitalization.
“I would like to believe that Estonia can be very competitive in its regulatory policies to attract people set ICOs here. If the legislative environment will be friendly for equity based ICO, lots of venture funds may be established in Estonia,” according to Chen, who previously has developed the AngelVest Fund to be one of the largest angel investment groups in China, having provided funding to 16 companies.
G-Global Business Portal is a coordination of investment policy in the real sector of the economy to create “smart” factories and enterprises. The mission of the platform is to help enterprises enter new markets of the US, China and other European countries through robotization, technologies and innovations. Cryptofund AngelVest invests in the organization of that processes and the G-Global Business Portal is a tool where experts from around the world help to restructure enterprises.
“Therefore from the point of view of years of experience I have in the terms of investments I suppose I can find the most competitive opportunities here. Beyond that to help Estonian companies to find a large markets to penetrate such as China or USA which allows Estonian companies to globalize and scale,” Chen said. He founded and participated in start-up companies in senior operating and finance roles, grew businesses from concept to operations – forming teams and executing on business development.
“AngelVest does have very strong brand in Asia and in China particularly, and we can leverage what we have, our platform, our brand, our operation, our mindfulness to help this new crypto fund find the most compelling opportunities and to bring this opportunities in the investment process,” noted Chen.
The launch of a crypto fund in Estonia finds the support of a member of Parliament and General-Secretary of the Centre party of Estonia, Mikhail Korb. David Chen has held two meetings with Korb, where discussed the opportunities of ICOs in Estonia. Mikhail Korb is willing to study best practices of regulations from other jurisdictions that have already approved certain legislation in cryptocurrencies and ICO spheres such as Gibraltar, Singapore and adopt these regulations for Estonia to create the best regulatory policies for legitimate conducting ICOs in Estonia. Pre-sale of the G-Global ICO tokens is scheduled for March 13, 2018.
“The main point – it is important to evaluate already existing legislation from the point of view of its attractiveness and viability for entrepreneurs and figure out those rules that are really vibrant in the terms of the real market. It should be not just about setting regulatory policies, it should be about the viability of their executing and attracting investors and entrepreneurs,” Mikhail Korb said.
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