Taiwan’s Nogle Capital joins Telegram round, inks pact with Oyster Ventures

Bitcoins sit among twisted copper wiring inside a communications room at an office in this arranged photograph in London, U.K., on Tuesday, Sept. 5, 2017. Photographer: Chris Ratcliffe/Bloomberg

Taipei-based venture capital firm Nogle Capital Management on Wednesday announced that it participated in recent fundraising of blockchain startup Blockstack and encrypted messaging service Telegram through its Nogle Ventures Strategy Fund I SPC.

The two startups raised funding through their respective exclusive, private pre-initial coin offering (ICO), it said in a statement.

Besides, the Nogle fund has also got into a deal-sharing and sourcing, co-marketing and co-investment agreement with China-US cross border venture capital firm Oyster Ventures as it aims to invest in high growth technology ventures.

A report from Bloomberg last week said that Telegram, founded by Russian entrepreneur Pavel Durov, has already raised $850 million from 81 investors in funding, and is looking to raise another $850 million soon. The total size of Telegram ICO may reach $2.55 billion, it said quoting Russia’s Vedomosti newspaper.

Nogle’s investments in Blockstack and Telegram are aimed at building a portfolio of technology startups.

“These investments represent only a sample of the involvement that Nogle Capital Management is making in blockchain and the kind of professional investment firms we participate with. More upcoming opportunities we will be involved in will represent our consolidation as an active participant in the blockchain space,” Salas said.

Blockstack is an Internet browser which uses the blockchain to enable decentralized storage and decentralized authentication & identity for applications allowing interactions between users and applications. The startup is backed by Union Square Ventures, Foundation Capital, Lux Capital, Winklevoss Capital, Blockchain Capital, Digital Currency Group, Y Combinator partner Qasar Younis, Techcrunch founder Michael Arrington and Digg founder Kevin Rose.

Meanwhile, Telegram plans to launch its own blockchain platform and native cryptocurrency, powering payments on its chat app and beyond that could compete with Visa Inc. or Mastercard Inc., bringing digital assets to the mainstream. The launch will be funded with an enormous ICOs, with forthcoming private pre-sales ranging into the hundreds of millions, the statement said.

As part of the partnership with Oyster, Jonathan Leong, Executive Chairman of Nogle Limited, the parent company of Nogle Capital Management, would be join Oyster as a General Partner.

“The Oyster platform has strengthened our existing network within the global technology community as a truly global investment platform and validates our dedication to sourcing the best investments for our investors,” said Carlos Salas, Managing Partner of Nogle Capital Management.

Oyster is an early stage investment platform targeting US-based frontier technology startups in the areas of blockchain, artificial intelligence, fintech, media tech and more.

Nogle Capital Management is dedicated to invest in early stage (from seed up to Series A) technology companies. Its primary focus is to invest in Asia startups in areas such as cloud/SaaS, media & entertainment, fashion technology, network solutions, cyber security, and fintech.

Also Read:

Encrypted messaging service Telegram said to triple price in largest ICO

Encrypted messenger Telegram targets $2b in biggest ICO ever

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.