Brussels, Belgium, June 19 2020 – Tioga Capital welcomes SmartFin Capital as the fund’s new strategic partner and Jürgen Ingels as a key strategic advisor to the fund.
Jürgen Ingels: “At SmartFin, we see many opportunities around blockchain and believe in its potential. Collaborating on smart and trusted datasets as well as securing sensitive information is ever more important, and gaining ground in Europe. We believe Tioga is best positioned to capitalize on this opportunity and we’re looking forward to a fruitful partnership.”
As a member of the investment committee, Jürgen Ingels will carry his weight on Tioga’s investment decisions and brings 20 years of venture experience to the table.
Nicolas Priem (co-founder): “Even though most of the blockchain start-ups and entrepreneurs are located in Europe, there is only €350M in funds earmarked for the opportunity, while the US has >$15bn dedicated to Blockchain technology for fewer deals. This massive imbalance in the market creates an opportunity to fund and support European blockchain entrepreneurs, and we are thrilled that we can count on SmartFin as a partner to tap into this opportunity.”
While blockchain technology was still an abstract concept a few years ago, today the major institutions in the world are actively competing to build blockchain applications that could attract a billion users from day one.
On the private side, Facebook is looking to solve global payments with their project called Libra, while Central Banks around the world are using blockchain as the backbone for their central bank digital currencies (CBDCs). In an era where a universal basic income (UBI) is becoming more and more a reality, having your savings account directly with the central bank instead of your local bank takes away a lot of friction.
Bart Preneel (advisor): “Although complex, the underlying components of Blockchain aren’t new. Hash functions and digital signatures were invented in 1970, while Merkle trees stem from 1979 and timestamping was introduced in 1990. The breakthrough of blockchain is that these technologies were combined in an innovative way, enabling privacy and data security at scale. In a world that becomes ever more digital, the relevance of this technology will increase substantially for businesses and end-users alike.”
It’s clear that the industry has made a giant leap forward on the infrastructure side over the last three years and is now poised for its next cycle of growth. With that in mind, Tioga Capital is working towards a first closing of its maiden fund at €10M.
About Tioga Capital
Tioga Capital is a European Venture Capital fund focused on Blockchain Technology, led by Nicolas Priem, Patrick van De Mosselaer, Michiel Lescrauwaet, and Olivier Lefebvre. Besides SmartFin and Jürgen Ingels, Tioga also counts Bart Preneel (Professor KU Leuven, head of COSIC), Stijn Bijnens (CEO Cegeka), and Kyle D’Souza (President Stanford Blockchain Club) on its Advisory Board.
SmartFin is a European Venture Capital fund focused on investing in European growth companies that display the potential for significant value creation in fast growing market segments. The day-to-day management of SmartFin is led by Jürgen Ingels, Bart Luyten, Thomas Depuydt, and Bert Baeck.
With over 100 cryptographers, COSIC (Computer Security and Industrial Cryptography group) is the renowned research group of the KU Leuven that provides broad expertise in digital security and strives for innovative security solutions. COSIC is headed by Bart Preneel.
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