Ethereum ConsenSys studio draws a line between software and venture

The company founded by the creator ofEthereum wants to better separate its blockchain software investment and development activities. ConsenSys announces a internal reorganization, including the departure of 14% of its employees.

To be both an investment fund and a software solutions publisher for the Ethereum blockchain, this is the strategy followed by ConsenSys since its creation. The company thus participated in the seed phase of more than 100 startups to the tune of $ 100 million.

At the same time, its developers designed "the infrastructure and tools for open-source smart contract platform the most used. Such a model is unusual, and not necessarily optimal.

ConsenSys, a full-time software publisher

ConsenSys has therefore embarked on a strategic evolution in order to separate its two main businesses, its software publishing and investment. Two entities will thus be created. The first one, ConsenSys, will be in charge of the software.

The publisher will develop software components, including Infura, PegaSys, MetaMask, and Codefi. Its job will be to provide development tools and infrastructure for developers, decentralized finance and startups. ConsenSys will also continue the production and development of blockchain solutions for financial services, trade finance and commerce companies.

As for ConsenSys Investments, it will consolidate the company's investment activities. The entity will manage the existing portfolio of companies and drive new investments. Last October, $ 175,000 was allocated to 7 blockchain startups in the Ethereum ecosystem.

One foot in US bond brokerage

And ConsenSys does not intend to stop. The company has just completed the acquisition of the brokerage business Heritage Financial Systems for an undisclosed amount. It thus sets foot in the municipal bond market, estimated at $ 400 billion a year in the US.

But the split in the core business of the company also results in a reorganization of teams and departures. ConsenSys announces changes in the sales, service and marketing departments. A key 14% reduction in staff. This follows a first wave of departures in December 2018. It concerned 13% of employees.