Las Vegas, Nevada, Dec. 07, 2018 (GLOBE NEWSWIRE) — OnliFunds, a global venture fund, launches its first investment fund focused on blockchain companies within Protect Pharmaceutical’s (OTC “PRTT”) OnliChain Ecosystem.
PRTT announces the launch of AES/OnliFunds LLC this week. The fund will be led by its joint venture partners AES, Inc and OnliFunds LLC headquartered in Utah. AES/OnliFunds will be a $250 million fund, which would make it one of the region’s largest funds of its kind, and is supported by ViolaLux, a 5 billion asset-backed fund based out of Luxemburg.
Erick Mosteller will lead the fund for AES/OnliFund LLC. Mr. Mosteller has spent the last five years working very closely with ViolaLux to create a Fund structure that can effectively support the US markets by greatly mitigating the risk of future projects through the unique abilities afforded Luxembourg based funds. AES/Onlifunds will be utilizing this structure to provide accelerated growth and security to this new innovative business model.
Mr. Mosteller stated “We see the blockchain space as the next safe haven for secure transactional business worldwide and not just a space for Bitcoin and other ICO tokens. The marketplace to date has not clearly embraced the power of blockchain technology but instead has relegated it to a speculative environment driven by day traders and new ICO’s. We believe the Silicon Slopes area is emerging as one of the key marketplaces that will become the center of the blockchain universe and the OnliChain ecosystem.”
Through AES/OnliFunds, “we are going to start making deployments next month and most if not all of those companies will be based in Silicon Slopes or the State of Utah” Mosteller said. Some of those will be companies already identified as being important to the OnliChain ecosystem.
AES/OnliFunds is aimed at bringing early-stage capital to the best-performing companies emerging from the OnliChain ecosystem. OnliChain, which is creating a blockchain ecosystem, has provided AES/OnliFunds the first right to invest in the ecosystem companies. About half of the AES/OnliFunds portfolio will be from the OnliChain ecosystem.
CEO Una Taylor, of PRTT, commented on this announcement, “This is a very exciting time in history and we are elated to be at the forefront of a technology that possesses the potential, and is well on its way, to disrupt all industries. This technology has vast potential for beneficial and practical use for economic growth and positive social impact.
PRTT is in the process of building out a strong and capable team of advisors and venture partners. Together we want to execute a mission whereby we assist the disruptive and promising projects with the ability to offer actual, practical blockchain enabled applications to benefit the global economy.
We will take a unique approach to bridge the worlds of traditional investing and the world of blockchain and digital asset investing. PRTT intends to provide their portfolio companies with a supportive ecosystem to position them for long-term success. PRTT and its consortium have created an ecosystem where promising technology companies can grow and thrive.
“We’ve assembled a dream team of leaders in finance and technology that will accelerate Blockchain innovations from across the globe. Our platform goes well beyond cryptocurrency investment to unlock the power of Blockchain to transform our world”, stated Wajed Salam newly appointed Board Member.
AES/OnliFunds was formed to leverage the decades of experience of this investment team and the ecosystem they have built to offer sophisticated investors a unique fund structure to take advantage of this opportunity. Onlifunds growing list of global alliances intends to provide global deal-flow, expertise, and growing support for PRTT”s portfolio companies.
As part of their investment and execution strategy, the Fund intends to leverage its strategic alliances across the globe.
Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the SEC including the Current Reports on Form 8-K and the Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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