Block.one today announced with TomorrowBC the creation of a fund to exclusively invest in opportunities leveraging EOS.IO software. This is the first announcement for block.one’s EOS VC partnership program to stimulate EOS innovation.
TomorrowBC aims to invest in trailblazing entrepreneurs and companies looking to shape the future utilizing new technologies, like the EOS.IO blockchain open source software.
Derek Rundell, a managing partner of Eric Schmidt’s venture firm, TomorrowVentures, is the Managing Partner of TomorrowBC. Rundell said he is “excited to draw on the knowledge, relationships, and experience that helped make TomorrowVentures a success.”
With a $50mm initial close, seeded by block.one, TomorrowBC is poised to take advantage of companies reshaping many traditional and emerging industries.
When asked about the potential of the new disruptive technologies on the future, Schmidt said, “The possibilities created by these new technologies are going to be monumental. I am excited to see where the pioneers of these new emerging technologies can take us.”
Brendan Blumer, CEO of block.one, echoed Schmidt’s sentiments, “We are excited to work with an established and experienced team that is focused on developing disruptive companies and technology. The open source EOS software fundamentally enables new community-driven business models capable of disrupting the largest incumbents across all major sectors, and block.one will be heavily investing in this future.”
In July 2017, the EOS token sale generated over $185 million in its first 5 days, block.one, the developer of the EOS.IO software, intends for EOS to support distributed applications that have the same look and feel as existing web-based applications, but with all of the benefits of the blockchain – namely transparency, security, process integrity, speed and lower transaction costs.