Hong Kong, CHINA – As more institutional money pours into the blockchain and crypto space, the institutional players that follow that money are pouring in as well. In a huge fillip for EOS, one of the biggest players in the investment banking and financial services industry, Michael Alexander, former CEO of Jefferies Asia will be joining EOS VC, the US$1 billion venture capital arm of EOS, as its CEO, effective July 5.
The announcement was made via Block.one, publisher of the EOSIO blockchain software protocol and issuer of the EOS token, regularly ranked one of the top five cryptocurrencies in the world by market cap and currently valued at US$8 billion according to data from CoinMarketCap.
Jefferies Group, an American multinational investment bank and financial services giant has assets under management valued in excess of US$44 billion. For its last financial year, the Jefferies Group booked US$3.2 billion of revenue and net earnings of US$358 million, with substantial contributions from its Asia arm. According to Block.one’s announcement, Alexander had been at Jefferies Asia for just under eight years and has more than 25 years of experience in Asian capital markets. Before joining Jefferies, he was Group Head of Sales and Sales Trading at CLSA Hong Kong, Director of Asian Proprietary Trading at Deutsche Bank Hong Kong, and Head of Proprietary Trading at JPMorgan Hong Kong and Ord Minnett.
Alexander will be based in Hong Kong and also serve as a member of Block,one’s Executive Committee. According to the announcement, Alexander’s roles will be the management of direct venture investments and EOS VC partnerships, with a specific focus on sourcing investment projects for the development of the EOSIO ecosystem, which means that developers who have been actively building blockchain and decentralized applications or dApps atop the EOS protocol can look forward to some new venture capital funding in search of strong projects backed by experienced teams. The strategy to fund its own ecosystem through venture capital funding, while not new, is a sure way to generate more activity around the EOS protocol. With no shortage of blockchain protocols available, EOS’s aggressiveness in pursuing ventures to build its ecosystem as well as its strong technology, will ensure that it stays in the race to create the world’s top blockchain protocol. EOS was also recently ranked the world’s number one blockchain by the China Center for Information Industry Development, pipping Ethereum for the top spot.
With almost three quarters of its funds having already been allocated, EOS has pumped US$700 million through VC partnerships in the United States, Europe and Asia. According to incoming Block.one Group President Rob Jesudason,
“Our partnerships and investment efforts through EOS VC are critical in driving adoption and innovation in the EOSIO ecosystem. We are committed to supporting companies that want to build businesses and dApps on the platform.”
“Mike has extensive experience in investment banking and is one of the most respected individuals in the financial services industry in Asia. I am delighted he is joining the team.”
Alexander mapped out his vision as well for EOS VC,
“Block.one is shaping the next generation of technology and the internet.”
“The vision of its founders has resulted in it being one of the fastest-growing organizations in the world and I am excited to be joining.”
“The company’s unique position as the publisher of the EOSIO open-source code means that it is poised to lead the way in investments related to the burgeoning platform.”
EOS, which was also ranked one of the top three blockchain protocols recently by this site can claim many promising projects among its ranks, including many Chinese-backed blockchain projects such as, HireVibes, EON, OracleChain, Chintai, and Emanate.