ConsenSys announced the restructuring of its business venture

One of the largest Ethereum startups, ConsenSys, intends to restructure its venture business and create a single unit focused on managing portfolio projects and further investments. This is stated in a press release .

For example , ConsenSys Ventures , ConsenSys Labs and Tachyon accelerator will be merged into a single enterprise for more effective coordination of work.

It is noteworthy that amid the transformation, the founding partner, Kavita Gupta, left her leading position. She confirmed her departure in a conversation with The Block. However, she will remain an advisor to the company.

Kavita Gupta

The founder of ConsenSys, Joseph Lubin, stressed that from now on the company will be able to more effectively help entrepreneurs at every stage of the development of their projects.

The press release also said that ConsenSys continues to strengthen its position in the venture direction while many funds suffered greatly during the cryptocurrency winter and became less active. Nevertheless, in April, the media spread the information that the startup intends to raise $ 200 million at a valuation of $ 1 billion, although its profit last year allegedly did not exceed $ 21 million.

The startup was founded in 2014 by Joseph Lubin, who at first financed ConsenSys from his own funds. Gradually, the number of staff of the company reached 1,200 people. However, when the price of Ethereum after the 2017 boom subsided sharply, the startup reduced 13% of employees.

At the end of last year, as part of the reorganization, Lubin announced the launch of ConsenSys 2.0, as well as an emphasis on partnership with outside investors from the world of traditional finance.

The list of startups in which ConsenSys has invested since the beginning of 2019:

• Apex: E3;
• Truffle Blockchain Group;
• ErisX;
• Adhara;
• Genomes.io;
• Blok-Z;
• IBISA;
• Glimpse;
• Sensor.link;
• LawCoin;
• Cypherock;
• Ether.cards;
• Sooho;
• LinkDrop;
• PDAX;
• Ligero;
• Tenta;
• Coinhouse;
• Helena;
• Memewars;
• Paytrie

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