In an announcement made yesterday, Franklin Templeton said it raised $10 million for a blockchain venture fund.
In a filing with the SEC, Franklin Templeton Blockchain Fund I, L.P. said it sought to raise a total of $20 million for the venture capital fund it is building.
A large part of the fund’s investment will likely be in blockchain and crypto companies. There was no information described in the filing about what would be done with the fund.
Franklin Templeton manages $1.55 trillion of assets, so $20 million is still a small allocation for such a large fund. In the fast-moving world of digital assets, it is the latest traditional finance firm to take an interest.
Franklin Templeton announced last month that it was looking for a cryptocurrency research analyst to join its team and provide research coverage for the largest, most liquid crypto assets, according to a job posting.
Analysts are tasked with developing and managing products related to crypto assets, according to the announcement. LinkedIn reports that applications are still being accepted for the position.
Amberdata, which provides data about digital assets, also received $15 million in a series A funding round.
As part of a move to digitize its shares, in 2019, the company partnered with cloud-based institutional wallet provider, Curv.
The firm has offices in 34 countries and is based in San Mateo, California. Franklin Templeton was established in New York City in 1869.