Sep 6, 2017

ConsenSys forms VC fund for blockchain startups

ConsenSys, a company that develops apps and tools based on Ethereum, has launched a $50 million venture capital fund that will provide pre-seed and seed capital to blockchain technology startups. It will be led by Kavita Gupta, while ConsenSys founder Joe Lubin (also co-founder of Ethereum) also will be involved.

Gupta, who most recently worked on mission investing for Eric Schmidt's family foundation, tells Axios that she doesn't believe the advent of ICOs should result in the depreciation of traditional venture capital:

There is still value to due diligence and even if two PhD kids have sold tokens based on a brilliant white paper, they still have to figure out how to deliver a company. That's not necessarily something they have experience doing."

ConsenSys Ventures — which has not taken outside capital — will back startups that both do and don't plan to eventually offer digital tokens. It hasn't closed any deals yet, but does have three term sheets out.

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Pence aide says intel report of Russia helping Trump is "false information"

Marc Short. Screenshot: Fox News

Marc Short, chief of staff to Vice President Mike Pence, claimed on "Fox News Sunday" that the White House has not received intelligence that Russia is seeking to help President Trump win re-election, calling it "false information" that has been selectively leaked by Democrats on the House Intelligence Committee.

The big picture: Short and national security adviser Robert O'Brien both dismissed reports published in the Washington Post and New York Times last week about a briefing provided by top election security official Shelby Pierson, an aide to outgoing acting director of national intelligence Joseph Maguire.

Bernie's juggernaut

Sen. Bernie Sanders speaks in San Antonio last night with his wife, Jane. Photo: Eric Gay/AP

Sen. Bernie Sanders won so big in the Nevada caucuses that Democrats are hard-pressed to sketch a way he's not their nominee.

Driving the news: With 60% of precincts counted (slow, but better than Iowa!), Sanders is running away with 46% of delegates — crushing Joe Biden's 20%, Pete Buttigieg's 15%, Sen. Elizabeth Warren's 10% and Sen. Amy Klobuchar's 5%.

Clyburn: Sanders' "socialist" label will be "extra burden" in House races

Jim Clyburn with Speaker Nancy Pelosi. Photo: Mario Tama/Getty Images

House Majority Whip Jim Clyburn (D-S.C.) said on ABC's "This Week" Sunday that Sen. Bernie Sanders' identification as a democratic socialist may be an "extra burden" in down-ballot House races if he were to win the Democratic nomination.

Why it matters: Clyburn's comments echo fears from many establishment Democrats, who worry the House majority they won in 2018 by taking moderate seats carried by President Trump could be at risk with Sanders at the top of the ticket.