Equilibrium Group, a blockchain engineering company, has launched its venture capital unit, Equilibrium Ventures, along with its first early-stage fund.

Equilibrium Ventures Fund I is seeking to raise 30 million euros (about $32.5 million), the firm's investment partner, Mika Honkasalo, told The Block. About 20% ($6.5 million) of that amount has already been raised in the fund's first close, Honkasalo said, adding that the full close is expected by the end of this year.

Founded in 2018, Equilibrium Group had been making investments from its balance sheet since 2020. The dedicated venture capital unit was always the longer-term plan, said Honkasalo, formerly of ParaFi Capital and The Block and founder of Access Protocol. Honkasalo joined Equilibrium Group over a year ago to support the …