Asia’s Richest Man Invests In BitPay

TechCrunch

After some serious drubbing in two of the world’s largest countries during past few weeks, the Bitcoin ecosystem may have found its biggest individual backer yet in Li Ka-shing, Asia’s richest man.

Li is now an investor in Atlanta-based BitPay, the startup with ambitions to become the PayPal for the virtual currency world. He has made this investment through his venture capital company, Horizons Ventures, an early investor in companies such as Facebook, Waze, Skype and Summly.

A BitPay spokeswoman told me that Horizons Ventures and the Founders Fund are among a group of investors including Shakil Khan, Barry Silbert, Jimmy Furland, Roger Ver and Ben Davenport, who have put around $2.7 million in the startup so far. Founders Fund is the VC group run by people who founded and were early employees at PayPal. In May this year, BitPay raised $2 million from the Founders Fund.

The South China…

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