Three angels create a bitcoin buzz

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The three founders of the Israeli investment platform iAngels are promoting crypto adoption by working with blockchain startups to secure investment and educating traditional venture capitalists about the space, Coindesk reports.

iAngels co-founder Mor Assia said of her firm’s startup portfolio, which includes an equity stake in mining hardware manufacturer Bitmain and token holdings in everything from Tezos to Telegram, told Coindesk, “We’re building the crypto ecosystem together with them. Having an engineering background is very helpful when talking with entrepreneurs, especially when doing deep dives on specific technologies.” The three angels include a lawyer, a software engineer and a former Wall Street veteran.

According to the iAngels team, its subsidiary fund 21M Capital, has more than $60 million in assets under management, with bitcoin making up 20 percent of the portfolio. Agada Nameri, the lawyer in the group, commented that the fund has provided 40 percent returns this year to investors who were skeptical about holding crypto assets directly.

“Most of our investors are more traditional,” Nameri told CoinDesk in Tel Aviv. “We are able to provide portfolio management in this industry. … We’re the bridge between the old world and this new industry.”

Shelly Hod Moyal, the third member of the team, added, “I definitely see myself as a bitcoiner. We manage funds for thousands of investors from 50 countries. … We’ve been very active in explaining and educating. I’ve had talks in elderly homes explaining to them what is bitcoin, and what is blockchain.”

It is notable that one of the trio is the wife of eToro founder Yoni Assia, and she is also the daughter-in-law of First International Bank of Israel board member David Assia. Although, as Coindesk points out, she is connected to one of Israel’s most powerful banking families, she and her husband are teaching their children to value decentralised technology more than traditional financial institutions.

“This is the way they’re going to live their lives,” she said. “They’re not going to be reliant on traditional banking.”

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