Singapore – Singapore sovereign wealth fund GIC, which is an investor in the group with ties to troubled cryptocurrency broker Genesis Trading, said it expects high volatility in investments in the short term.
The comments from GIC, an investor in troubled crypto broker Genesis' parent firm, came after its recent investment in the Digital Currency Group (DCG). DCG is a venture capital firm that invests in blockchain and digital currency-based companies.
According to GIC CEO Lim Chow Kiat, the firm expects to experience volatility in its investment portfolio in the short term, due to the inherent risk associated with investing in the blockchain industry. He added that GIC is comfortable with the risk associated with such investments and that the firm is “looking ahead to the long-term potential of this technology.”
Lim Chow Kiat further stated that the firm prefers to invest in companies that have a track record of successful investments and a strong management team. He added that GIC is also keen to invest in companies that can solve real-world problems, such as those related to identity, payments, and data security.
The Singaporean firm has invest in a number of other blockchain-related companies, including Ripple, a blockchain-based payment platform, and VeChain, a blockchain-based supply chain management platform.
GIC has also invest in a number of traditional venture capital funds, such as Andreessen Horowitz, which has made investments in blockchain-based companies, such as Coinbase and Chainalysis.
The Singaporean firm is also looking to invest in other areas of the blockchain industry, such as digital asset management and enterprise blockchain solutions.
GIC is one of the most active venture capital firms in the blockchain space and is looking to capitalize on the long-term potential of the technology.
