Israeli Investment Platform iCapital Joins Forces with Enecuum

Israeli investment platform iCapital has decided to invest in Enecuum, a blockchain focused mobile mining system.

Israeli fund management platform iCapital has partnered with Enecuum, a blockchain platform providing mobile mining, to finance the Hong Kong-based company, Enecuum said in a statement sent to Cryptovest. The memorandum of understanding outlines a long-term cooperation between the two firms.

iCapital said it signed the MoU after its experts completed a due diligence on Enecuum project that focuses on three primary parameters, including the team, business model, technology and several other major criteria.

After the process, the fund management firm decided Enecuum is qualified for financing.

“We started investing in blockchain three years ago as we identify that the innovation of this technology has the potential to revolutionize and disrupt many aspects of our lives,” iCapital General Manager Agada Nameri said. “We are passionate about projects where we can add value to the teams and support their efforts.”

Under the agreement, iCapital’s Shelly Hod Moyal was designated as Enecuum’s founding partner. Moyal is also the founding partner of iAngels, the Israeli VC and investment platform for high-tech equity deals with $140 million assets under management.

The general manager of iCapital explained that her company has a long experience overseeing many projects from across the globe as an investment platform, but they were particularly impressed how Enecuum is trying to solve blockchain’s issues on scalability, security and speed by applying a hybrid system involving mobile mining and a unique data structure that creates a synergy between directed acyclic graphs and traditional blockchains.

“We were excited by the Enecuum team’s vision, technology and network strength,” she added.

Enecuum co-founder and CEO Mikhail Saifullin, described blockchain as a new and emerging asset class in the market that is fast gaining popularity among fund managers and individual investors across the world who are looking to diversify their portfolios.

“We express our deep gratitude to the iCapital team for their high level of appreciation and trust in our product,” Saiullin said.

The growing trend among fund management firms to back blockchain projects was earlier predicted by famed hedge fund manager Mike Novogratz who said that a “herd of institutional investors” is coming for crypto. Novogratz is one of the major backers of cryptocurrencies in Wall Street having joined the digital currency space in 2015.