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New Managers May 2018

Profiles: Eterna, Capital, OC Horizo

 

Social impact investing on the blockchain

London-based Eterna Capital wants to shape the future of the blockchain ecosystem by supporting companies that have social impact. Launched earlier this month, the firm will make early-stage investments in companies that are finding innovative ways to use blockchain for good

"It's really important to us to focus on the combination of impact and blockchain," Andrea Bonaceto, Founding Partner and CEO at Eterna Capital tells Opalesque New Managers. He adds that by focusing on social impact, Eterna's investments are more likely to end up going to entrepreneurs with long-term growth in mind. "The projects tend to be more rigorous and our expertise in both blockchain and social impact ensures that we aren't likely to get caught up in some of the more questionable projects touting blockchain right now," he says

Eterna's team is composed of Bonaceto and three former BlackRock executives - Asim Ahmad, Mattia Mrvosevic, and Nassim Olive. While at BlackRock, all three were focused on the firm's institutional client business and developed a background in ESG and social impact investing. The entire team at Eterna have been personally invested in various blockchain companies over the past two years

"We know there is demand from institutional investors to put money into blockchain and digital assets, but the infrastructure isn't there yet," Bonaceto says. "We think we have an opportunity with this fund and our track record to give them this infrastructure."

Eterna has developed a proprietary research and diligence process designed to check companies against its goal of finding long-term growth organizations with a clear-cut social impact. Asim Ahmad, Founding Partner and Head of Portfolio Management at Eterna says tha......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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