Asset manager Franklin Templeton files for blockchain venture fund

Capital Markets • September 15, 2021, 2:53PM EDT
The Block

Franklin Templeton, the asset management firm, has formed a blockchain venture fund that could raise as much as $20 million, public documents show.

The firm's Wednesday filing shows that the Franklin Templeton Blockchain Fund I, L.P. has raised $10 million to date out of a projected $20 million. It is classified as a pooled venture capital fund.

As previously reported, Franklin Templeton has participated in a number of initiatives focused on crypto. The company is a stakeholder in a venture fund of funds launched this summer by Galaxy Digital. Franklin Templeton is an investor in crypto startups like Amberdata, taking part in the $15 million funding round announced this week. The firm also took part in an extended Series A round for custody startup Curv, which was later acquired by PayPal.

CoinDesk reported earlier this month that Franklin Templeton is seeking to hire roles in an internal digital asset team.