Franklin Templeton Seeks $20M for First Blockchain Venture Fund

The $1.5 trillion asset manager is also seeking to hire engineers for a tokenized asset department.

AccessTimeIconSep 15, 2021 at 6:03 p.m. UTC
Updated May 11, 2023 at 7:00 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Franklin Templeton is seeking to raise $20 million for what appears to be the investment firm’s first blockchain venture capital fund.

An affiliate of the San Mateo, Calif.-based company registered “Franklin Templeton Blockchain Fund I, L.P.” with U.S. securities regulators Wednesday. Documents were short on details but noted the fund has raised $10 million from a single sale thus far.

  • Bitcoin Transaction Fees Slide Significantly Post Halving
    00:55
    Bitcoin Transaction Fees Slide Significantly Post Halving
  • 21Shares Exec on Consumer Facing Applications Powered by Blockchain
    00:51
    21Shares Exec on Consumer Facing Applications Powered by Blockchain
  • 21Shares Exec on Aftermath of the Halving, Future of Bitcoin Network
    15:24
    21Shares Exec on Aftermath of the Halving, Future of Bitcoin Network
  • World Chain Is a Blockchain 'Designed for Humans': Tools for Humanity Exec
    00:31
    World Chain Is a Blockchain 'Designed for Humans': Tools for Humanity Exec
  • Representatives for Franklin Templeton, which has $1.5 trillion in assets under management, declined to immediately comment. A blockchain venture fund tends to invest in startups building their businesses on distributed ledger technology. Many raise well over $20 million in rounds led by firms with hundreds of millions of dollars in play, making Franklin Templeton’s initial fund comparatively tiny.

    Even so, the fund is another indication of Franklin Templeton’s expanding interest in crypto. It is already working to hire crypto traders and researchers, CoinDesk reported earlier this month.

    On Wednesday, the company also had job postings for engineers in a “Tokenized Asset Development Department.”

    “We are looking for talented developers and thinkers to join us in building an entirely new platform that will dramatically expand the concept of investing and asset management as it relates to the entire Digital Asset domain,” the job posting said.

    It asked for candidates experienced in “public blockchain protocols,” including Algorand, Ethereum, Solana, Stellar and Tendermint.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Danny Nelson

    Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.