Bitcoin VC Investor Tim Draper Re-Enters Indian Market Post-Demonetization
Prominent venture capitalist and prolific tech and bitcoin industry investor Tim Draper is making a return to the Indian market for early stage investing in startups in one of the world’s fastest growing economies. The investment into India’s blossoming technology sector, despite common consensus of it being overvalued to the point of being a ‘tech bubble’, will occur through Mumbai-based Blume Ventures, an early-stage venture firm that now joins Draper’s DVN (Draper Venture Network) as a member, according to TechCrunch. Having existed since the early Silicon Valley boom era during the....
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Tim Draper, a Bitcoin entrepreneur and investor, has returned to the Indian market, backing startups through Mumbai-based Blume Ventures. The Indian early-stage fund joined the Draper Venture Network, a major startup supporter which now has around $1.6 bln worth of assets and has backed over 200 startups since the 1990s, including Skype and Twitch. Draper told TechCrunch: “When Prime Minister Modi decided to clean up the Rupee it sent a strong message to investors like me that the Indian history of corruption may be coming to an end.” Draper’s tone strikes a decidedly different note to....
Indian Prime Minister Narendra Modi’s demonetization of 500 and 1,000 rupee banknotes has thrown India’s economy and financial systems into turmoil. Local residents now struggle to obtain cash to support and finance their day-to-day living. The government’s restriction on gold importation is also affecting the general population, as 78% of Indian....
American entrepreneur and venture capitalist Tim Draper has invested in Indian cryptocurrency exchange Unocoin despite regulatory uncertainty and reports of a possible crypto ban in India. Unocoin has seen the number of new users grow 10-fold since the supreme court quashed the banking restriction by the central bank. Investments Flow Into Crypto Sector in India The cryptocurrency sector in India continues to attract global investors as the government continues to deliberate on how cryptocurrencies will be treated in the country. The latest round of investments went into Unocoin, one of....
The disappointed expectation in the price of the world’s top digital currency, which slumped to a low of $864 on Christmas Day, and the market cap that reversed on the previous gains to $13.88 bln is now being corrected, a push Indian market insiders say will continue till at least Q1 2017. Bitcoin is now worth $915 after a sloppy Dec. 25 market, with the market cap standing at $14.6 bln. Why India again. The effect of the Indian market on Bitcoin is in the news again. The co-founder of Zebpay, Sandeep Goenka, believes that India should still be in the Bitcoin picture even though the....
Shivcharan Singh Maran, a father of a small household who died at the age of 93, left 50,000 rupees, hereinafter Rs, in 500 Rs banknotes for his family before he passed away. The bundle of cash worth $750 was rejected by the Reserve Bank of India (RBI) because 500 banknotes were previously demonetized by Indian Prime Minister Narendra Modi. Strategy for the government, tragedy for the famil. Mastan, the son of Shivcharan, discovered a bundle of cash amidst cleaning the room of his father after his death. The bundle of cash was found in sets of 500 Rs banknotes hidden in a closet of the....