Kleiner Perkins Caufield & Byers, one of the oldest and most storied venture capital firms in Silicon Valley, has named a bitcoin startup founder to the staff of its new seed-stage fund.
Called the Edge Fund, the early-stage operation will provide investments of $250,000 to help selected startups with development, programming and recruiting. Targets for the $4m fund reportedly include a full range of emerging technologies including virtual reality, digital health and the blockchain.
Abbott further hinted at the strategic selection of the group's participants in conversation with The Wall Street Journal, stating:
Founded in the 1970s, Kleiner Perkins' portfolio includes investments in AOL, Amazon, Google and Intuit.
Rumburg and Kleiner Perkins did not immediately respond to requests for comment.
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