Franklin Templeton is targeting a $20 million raise for what appears to be the investment firm’s first blockchain venture capital fund.
An affiliate of the San Mateo-based company registered “Franklin Templeton Blockchain Fund I, L.P.” with U.S. securities regulators Wednesday. Documents were short on details but note the fund has raised $10 million from a single sale thus far.
Representatives for the $1.5 trillion asset manager declined to immediately comment. A blockchain venture fund tends to invest in startups building their businesses on distributed ledger technology. Many raise well over $20 million in rounds led by firms with hundreds of millions of dollars in play, making Franklin Templeton’s initial fund comparatively tiny.
Even so, the fund adds yet another signal to Franklin Templeton’s expanding interest in crypto. It is already working to hire crypto traders and researchers, as CoinDesk reported earlier this month.
Read more: Mutual Fund Giant Franklin Templeton Eyes Bitcoin, Ether Trades With Planned Hires
On Wednesday, this reporter also found job postings for engineers in a “Tokenized Asset Development Department.”
“We are looking for talented developers and thinkers to join us in building an entirely new platform that will dramatically expand the concept of investing and asset management as it relates to the entire Digital Asset domain,” the job post said.
It asked for candidates experienced in “public blockchain protocols” including Algorand, Tendermint, Stellar, Ethereum and Solana.