Peter Thiel certainly isn’t a man who is used to failure. The PayPal founder and venture capitalist has amassed a fortune of over $2 billion in business ventures and investments. Now, his VC firm, Founders Fund, has invested in a startup that promises to optimize bulk trading in Bitcoin.
Thiel set up Founders Fund along with Ken Howery, Luke Nosek and Brian Singerman, who have all been involved in major tech companies such as Google and SpaceX. Their aggregate capital stands at over $3 billion, and their previous investments include Airbnb, Spotify and Stripe. Now, Thiel & co have turned their attentions to a Japanese startup, Tagomi Systems Inc., which promises to revolutionize the world of Bitcoin trading.
Tagomi Systems Inc.
Thiel has long been a Bitcoin supporter, so the news that Founders Fund have invested $15.5 million in a crypto-focused startup won’t raise many eyebrows. Tagomi Systems Inc. are aiming to build a platform that provides advice, comparisons and bulk execution for Bitcoin trades. The system will be focused on larger transactions and will work in a similar way to Wall Street conventional trading systems. Indeed, Greg Tusar, one of the founders, is the former Chief of Electronic Equities trading at Goldman Sachs, so will bring valuable experience to the creation of this platform.
More Than Just an Investor?
It’s fair to say that Founders Fund are partly betting on themselves with investments in startups such as Tagomi Systems, as they themselves have invested in Bitcoin. Not only that, but Napoleon Ta, one of the partners at Founders Fund, will reportedly become of the Directors at Tagomi.
This promises to be a story that develops significantly in the coming weeks, so keep checking back on Bitrazzi.com for all the latest information!