MELBOURNE, Australia--(BUSINESS WIRE)--CollinStar Capital, an Australian based asset management company and a market leader in Fintech, specializing in blockchain infrastructure, cryptocurrency investments, and relevant consulting services announced today that its subsidiary Blockchain Ventures signed an agreement with Draper Dragon Fund to set up a co-management fund to help build up Hcash Ecosystem.
Established in March of 2006, DFJ Dragon Fund is a joint venture between the internationally recognized venture capital firm Draper Fisher Jurvetson (DFJ) and Dragon Venture, the organization that spearheaded venture capital investment in China in the late 90's. DFJ Dragon Fund focuses its investment on China-centric early and middle stage companies in the technology market. DFJ Dragon Fund currently manages two US Dollar funds “DFJ Dragon Fund I & DFJ Dragon Fund II” and one RMB fund. It is headquartered in Silicon Valley, and have management and consulting offices in Shanghai. With the launch of its 3rd US Dollar fund in 2016, DFJ Dragon Fund henceforward became known as Draper Dragon.
CollinStar Capital is the lead manager of the Hcash project, one of the most advanced blockchains that took advantage of many technological breakthroughs that were not available to early blockchain developers. The primary mechanism behind Hcash is a distributed ledger that connects block-based and block-less Directed Acyclic Graph (DAG) systems, allowing ledger assets and information to be transferred between multiple cryptocurrencies. Hcash has also adopted a hybrid Proof-of-Work (PoW) + Proof-of-Stake (PoS) consensus mechanisms for securing, governing and upgrading the network. As a result, Hcash can apply a more open governance model, where stakeholders have more input in the future direction of the protocol.
"Our strategic partnership with Draper Dragon Fund will propel the quest of Hcash to become the New Standard of Value by allowing more and more digital currency projects to issue their tokens on the Hcash main chain," said Jayden Wei, Managing Director of Blockchain Ventures, a CollinStar Capital subsidiary, "We empower digital business with greater social value and trust in a broader range of use cases to accomplish their mission with state of the art blockchain technologies."
About CollinStar Capital
CollinStar is an asset management company with full-set of Australian Financial Services Licenses, specializing in blockchain infrastructure, digital currency investment and relevant consulting services.