Peter Thiel and Digital Currency Group Invest in Crypto Platform Layer1
Summary
SAN FRANCISCO--( BUSINESS WIRE )--Crypto investment and infrastructure platform Layer1 announced today the closing of $2.1 Million in Seed Funding backed by world-class investors, including Peter Thiel, Digital Currency Group, Jeffrey Tarrant, and more.Layer1 takes concentrated bets on promising blockchain protocols and builds critical technology to support their global impact.Led by co-founder Alexander Liegl, Layer1 takes a long-term position in cryptoassets with promising technologies and network effects, then deploys capital and resources in order to improve their fundamental value and support market adoption.“We believe there is huge potential for a hands-on, mission-driven investor to take a concentrated position in a single cryptocurrency, and then dedicate talent and resources to significantly accelerate its development,” said Travis Scher, VP Investments at Digital Currency Group.It is currently deeply involved with a promising privacy-focused cryptocurrency called Grin and intends to build critical technology to support its growth.
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