Portuguese Leaders Spearhead New €26 Million Blockchain-Focused Fund

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Portuguese Leaders Spearhead New €26 Million Blockchain-Focused Fund

A new fund, Lightshift I, has been launched, focusing on blockchain technology. The fund, worth $30 million dollars (equivalent to about €26 million euros), is led by three Portuguese individuals: Simão Cruz, CEO and founding managing partner, David Nogueira, CTO and founding managing partner, and Roberto Machado, founding partner.

Despite not being a Portuguese fund, Lightshift I has attracted the participation of some of the main investors in the industry. Notable investors include Diogo Mónica of Anchorage Digital, Gavin Wood, founder of Ethereum and Polkadot, Marc Andreessen of a16z, and DCG (Digital Currency Group).

The founding partners aim to leverage their investment and expertise in technology and product, having previously created and participated in successful blockchain applications and communities. The fund's strategy focuses on digital assets and decentralized financial services. It presents itself as a community of creators and experts in blockchain technology, with the aim of developing the next generation of blockchain use cases.

Lightshift aims to be the best platform to support the next generation of blockchain, crypto, and web3. It is focused on participating in decentralized projects and investing in their tokens. The fund invests in the early stages of development and leverages engineering teams to accelerate and empower its portfolio of companies. These teams are an integral part of the development process, coordinating other creators towards a common vision.

In the context of Portugal's growing reputation as a hub for technology and innovation, the launch of Lightshift I is a significant development. Portugal has been attracting international attention for its Golden Visa program, which offers residency to investors who invest a certain amount in the country's real estate or businesses. This program has been particularly attractive to tech entrepreneurs and investors, further boosting Portugal's tech ecosystem.

The launch of Lightshift I, led by Portuguese individuals and attracting significant international investment, is another testament to Portugal's growing influence in the global tech and blockchain industry. It will be interesting to see how this fund contributes to the development of new blockchain use cases and the broader growth of the blockchain and crypto industry.