Chrono.Tech Attracts USD 30 Million Investment
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The growth of the crypto market and blockchain sector has been nothing short of sensational over the course of 2020 and 2021, but Sydney blockchain company Chrono.Tech has enjoyed a particularly impressive run. Chrono’s suite of blockchain-based solutions for the HR and recruitment industry have attracted large numbers of new users as COVID-19 forced a change in working patterns and employment opportunities. Combined with some judicious decisions to build out its offerings and broaden its appeal, Chrono has capitalised on the new normal brought about by life in a pandemic and post-pandemic world, with the result that its ecosystem has exploded in user numbers and value.
With that increase in popularity has come significant external investment in the company from institutional players.
The first investment was made by a European Family Office. Family offices, which manage the assets of wealthy families with a view to growing them and passing them on down the generations, are privately held companies. As such, they have greater flexibility in their investment strategy than institutions such as pension and insurance funds, which manage customers’ funds and are bound by tighter regulation. Family offices typically manage at least $100 million and usually significantly more, and their status has enabled them to be some of the first large investors in cryptocurrencies and blockchain companies.
A household name in Australia, Mark Carnegie is a corporate advisor, entrepreneur and asset manager with three decades of experience. Last year, his fund MH Carnegie & Co announced that it would actively start investing in digital assets, having monitored
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