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Circle is raising $100 million for its new venture fund

Yogita Khatri

Cryptocurrency company Circle is planning to raise a $100 million venture capital fund for its equity crowdfunding platform SeedInvest.

The development has been revealed in a job posting by Circle, where it is seeking to hire a general partner for the proposed fund. CoinDesk reported the news first.

"The Partner will be expected to develop and drive an investment thesis designed to leverage Seed Invest's sizable deal flow and its unique network of 250,000 investors to maximize returns," the job posting reads, which was posted about a month ago.

SeedInvest is an equity crowdfunding platform, which was acquired by Circle back in March. Founded in 2012, the platform has helped over 150 companies to raise capital and has grown to over 20 team members, according to information on its website. In 2015, SeedInvest also opened its platform to retail investors in the U.S. 

The hired general partner will also be responsible to run day-to-day operations of the fund, including leading fundraising efforts, sourcing investment opportunities, and building out and managing the broader investment team, per the posting.