AgileGTM Blockchain Fund, a pan-European VC investing Pre-Seed B2B blockchain startups announced the first $2 million close of a new $10 million fund, which will start deploying capital this month.

The fund will initially invest in between three and six companies — over 500 candidates were sourced for possible support from the fund.

All of the startups operate in the B2B blockchain space and have raised angel capital, with a view to complete Seed rounds following the Lisbon-based VC’s participation.

The team aims to deliver 40-50 pre-seed investments with a similar level of selectivity.

Filippo Chisari, General Partner at AgileGTM, explains: 

“The founders that we’re backing all have some impact focus or are targeting developing markets with validated B2B revenue. 

We invest in commercially savvy entrepreneurs rather than wishful thinkers, and look for people who can build blockchain businesses not just products.”

According to “Chisari, it’s part of a broader aim to redefine the standard of blockchain venture capital in Europe:

“We wanted to leave our mark with the transformative power of blockchain technology while adding an extra 1 per cent at every step of the investment value chain. This would compound into an ecosystem of killer entrepreneurs backed by the best co-investors with aligned interests. That’s what AgileGTM is about.”

Lead image: AgileGTM. Photo: uncredited.