Overstock spins its blockchain subsidiary into investment fund Overstock subsidiary Medici Ventures will cease providing all previous services pending a full conversion into a limited partnership fund. 8393 Total views News
Online technology retailer Overstock is converting its blockchain investment wing into a blockchain-focused investment fund as it seeks to maximize profits amid the crypto boom.
Overstock.com announced on Monday that its wholly owned blockchain-focused subsidiary, Medici Ventures, will become a limited partnership fund, pending legal and regulatory approval.
Medici Ventures, which previously oversaw and managed Overstock’s investments in blockchain-related companies, will cease providing its usual services, which also included software development and design services.