Meta Change Capital (MCC), a Blockchain -specific venture fund, announced on Monday that it is aiming to raise €100 million (almost $112.6 million) to kick its efforts to back startups.

The fund is created by Nikola Stojanow, the co-founder of æternity blockchain. He also founded AE Ventures, another investment fund focusing on early-stage blockchain startups.

Targeting projects in the emerging markets

Unlike AE Ventures which only focuses on backing projects working on æternity blockchain, the new venture fund will focus on all blockchain startups in the “underdeveloped” parts of Europe, MENA, Asia, and Africa.

The venture fund will make the investments into Series A and further rounds of companies working with “next-generation” blockchains.

“I see the largest potential and supply of talent await in countries where blockchain is a tenfold leap to existing infrastructure that is crumbling, nonexistent or old,” Stojanow said. “MCC’s will focus on underdeveloped parts of Europe, MENA, Asia, Africa - especially parts where the capital will have [a] significant impact.”

MCC is aiming to close its capital raising round by the last quarter of this year.

Luka Sucic, former head of investments and acceleration at AE Ventures, will also join Stojanow at his new initiative and will act as a co-lead.

“I see the world changing and believe that cooperation is the keyword driving progress forward. What startups really need is an approach that helps them work with various blockchains technologies but also hands-on business support to navigate uncharted waters,” Stojanow added.

“At MCC, we aim to capitalize on our expertise, experience, and connections to build a next-generation fund that will combine blockchain and VC worlds.”

The new fund will be based in the Cayman Islands and will be regulated by the Financial Conduct Authority (FCA) in the United Kingdom.

Earlier this year, FIS’s venture arm announced that it is targeting to invest $150 million in emerging Fintech projects including blockchain.

Meta Change Capital (MCC), a Blockchain -specific venture fund, announced on Monday that it is aiming to raise €100 million (almost $112.6 million) to kick its efforts to back startups.

The fund is created by Nikola Stojanow, the co-founder of æternity blockchain. He also founded AE Ventures, another investment fund focusing on early-stage blockchain startups.

Targeting projects in the emerging markets

Unlike AE Ventures which only focuses on backing projects working on æternity blockchain, the new venture fund will focus on all blockchain startups in the “underdeveloped” parts of Europe, MENA, Asia, and Africa.

The venture fund will make the investments into Series A and further rounds of companies working with “next-generation” blockchains.

“I see the largest potential and supply of talent await in countries where blockchain is a tenfold leap to existing infrastructure that is crumbling, nonexistent or old,” Stojanow said. “MCC’s will focus on underdeveloped parts of Europe, MENA, Asia, Africa - especially parts where the capital will have [a] significant impact.”

MCC is aiming to close its capital raising round by the last quarter of this year.

Luka Sucic, former head of investments and acceleration at AE Ventures, will also join Stojanow at his new initiative and will act as a co-lead.

“I see the world changing and believe that cooperation is the keyword driving progress forward. What startups really need is an approach that helps them work with various blockchains technologies but also hands-on business support to navigate uncharted waters,” Stojanow added.

“At MCC, we aim to capitalize on our expertise, experience, and connections to build a next-generation fund that will combine blockchain and VC worlds.”

The new fund will be based in the Cayman Islands and will be regulated by the Financial Conduct Authority (FCA) in the United Kingdom.

Earlier this year, FIS’s venture arm announced that it is targeting to invest $150 million in emerging Fintech projects including blockchain.