Washington, Dec. 28 (ANI): Asia's richest man Li Ka-shing has become the first individual investor in Atlanta-based BitPay, the startup with ambitions to become the PayPal for the virtual currency world.
Li has made this investment through his venture capital company, Horizons Ventures, which manages 150 million dollars in 3 different funds, Tech Crunch reports.
Horizons Ventures has been an early investor in companies such as Facebook, Waze, Skype and Summly.
According to the report, BitPay raised 2 million dollars from the Founders Fund, which is the VC group run by people who founded and were early employees at PayPal, in May 2013.
Li's investment in BitPay comes at a time, when regulators in India and the People's Bank of China, have issued advisories against the virtual currency, and even questioned the legitimacy of Bitcoin, the report added. (ANI)
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