NEWS

Startup that Improves the Blockchain Concludes Series A Financing

February 26, 2016

Hong Kong - Paul Hastings, a leading global law firm, announced today that the firm advised Horizons Ventures Limited as a lead investor in a US$55 million Series A financing of Blockstream, a leading innovator in blockchain and related technologies. As part of the funding, Horizons has joined the Board of Directors.

Blockchain technology is predicted to be the next big investment wave, and perhaps one of the most transformative ideas to impact the world since the Internet. The blockchain is a public transaction ledger built in a decentralized network structure based on cryptographic principles so that any kind of trading, buying and selling of assets does not need to go through a centralized intermediary. Any kind of asset may be encoded into the blockchain and transacted, validated, or preserved in a much more efficient manner than at present including ideas, health data, financial assets, automobiles, and government documents.

Blockstream’s core area of innovation is sidechains, a technology focused on improving on the blockchain, including Bitcoin.

Horizons is an investment firm focused on disruptive technologies and is co-founded by business magnate Li Ka-Shing, one of Asia’s richest persons.
The Paul Hastings team was led by Hong Kong-based M&A partner Victor Chen, with support from associate Karen Wong.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms