The blockchain dollar fund 42DAO has officially been established and announced the completion of nearly ten million dollars in fundraising

Recently, the blockchain dollar fund 42DAO has been officially established. 42DAO is a dollar fund set up in the Cayman Islands, with a compliant financial management structure and auditing rules, gradually transitioning to a DAO governance model based on compliance.

As a blockchain fund, 42DAO received strong support from its strategic partner, Silicon Valley Bank, at the outset. After executing a full set of strict KYC compliance reviews, 42DAO obtained a fiat deposit account in the U.S. opened by Silicon Valley Bank within 7 working days. This move marks a further improvement in 42DAO's compliance, streamlining and enriching the investment channels for investors, while also helping the fund accelerate its entry into the global market.

About 42DAO

The main management team of 42DAO comes from Redblock Capital, relying on deep international investment banking resources and a professional fund management team. With a rigorous management system and sound risk control mechanisms, 42DAO is committed to becoming a bridge linking traditional capital and blockchain technology.

The fund has currently completed its first fundraising of nearly ten million dollars, with most members of the fund management team being returnees from well-known investment banks and the Tsinghua alumni-founded Shuidi Financial Technology Fund.

It is worth mentioning that the renowned public relations expert Gao Chao, based in Toronto, has been invited to become the public relations advisor for the 42DAO fund. Gao is the CEO of the well-known Canadian media company Haigui Pai. Before immigrating to Canada, Gao worked for well-known multinational companies such as Amazon and UBER, and was the first public relations director for Uber China. Australian angel investor Terry Hilsberg has also been invited to become the fund's investment advisor. Terry previously served as the Chief Information Officer for the Australian Federal Government and is an angel investor in the well-known Australian cochlear implant company Cochlear, with over 30 years of investment experience in the Asia-Pacific region. The 42DAO fund will also widely invite well-known individuals from various sectors to serve as fund advisors to support the fund in the future.

The fund's current portfolio includes Black Ocean, Dfinity, Pocket Network, Platon, Dora Factory, and others.

Why 42?

42 in binary is 101010,

42 is the ultimate answer to life, the universe, and everything ------ "The Hitchhiker's Guide to the Galaxy"

42 is the last hexagram in the I Ching --- "Weiji," which symbolizes that things are not yet complete and are still developing;

DAO stands for "Distributed Autonomous Organization," which is a form of organizational structure based on blockchain.

"We realized the need to establish a shared organization to explore the essence of value, so we decided to DAO-ify the fund," said Jeremy Zhou, the first contributor to 42DAO. "A great organization needs to transcend the boundaries of capital and expand into broader realms both materially and spiritually."