Exchange operator Nasdaq is looking to invest in blockchain startups as part of a new venture initiative.
Nasdaq Ventures, announced today, has set its sight on investing in companies that work with blockchain, as well as firms focused on artificial intelligence, next-generation data analysis and machine learning. The firm will invest as much as $10m in relevant startups, focusing on both seed-stage and late-stage placements.
Adena Friedman, president and CEO of Nasdaq, said in a statement:
“With the launch of our new venture investment program, we are reinforcing our focus on driving growth and innovation by evaluating, distributing, licensing and integrating disruptive technologies for the long-term benefit of our global clients.”
The operator has been testing blockchain elsewhere as well.
In February 2016, Nasdaq revealed it was testing a blockchain e-voting prototype with Estonia’s sole securities exchange. Further, in January, Nasdaq released a report outlining that, in its view, the trial “successfully demonstrated” why it believes blockchain use cases will extend beyond transaction settlement.