Blockchain.com, a crypto wallet and data provider, is purportedly raising a venture capital fund for investing in industry startups and cryptocurrencies, according to a report on Yahoo Finance.

The report stated that, two anonymous sources explained that blockchain is discussing with investors to provide them with $50 million as funds.

A Blockchain managing partner, Sam Harrison’s LinkedIn profile further noted that the fund is already existing, and is powered by a Blockchain backer, Lightspeed Venture Partners. 

It states:

“Co-founded Blockchain.com Ventures – A Venture Capital Fund anchored by Blockchain.com, the world’s largest non-custodial wallet platform & Lightspeed Venture Partners.”

Harrison was initially a principal at Naspers Ventures, an investment firm.

Furthermore, it suggests that Blockchain has already invested in some firms, including Nodle, Sliver.tv, Origin Protocol, and Coindirect. 

Blockchain has raised $70 million as funds over a course of four rounds, including a massive participation from Lightspeed Venture Partners and Richard Branson in the Series B funding round, totalling to $40 million.

Recently, the firm released The PIT, an exchange platform, also expanded on its first hardware crypto wallet last year. The company’s website claims to have more 41 million downloads for its wallet application.