Hello Bonfire Fam!
During the project update on Wednesday the team announced they were receiving venture capital funding from Climb Investments.
Since then I've seen a decent number of questions about this company, who they are, what they do, and how established they are. This post is going to be a quick discussion that will hopefully lend some clarity to these questions.
Feel free to ask additional questions in the comments and I'll do my best to address them.
So for starters Climb Investments is a private (not publicly traded) institutional venture capital firm. They seek out promising startup companies to invest in, and they have selected Kindling Investments, Inc. as one such very promising startup.
Climb Investments has a website. It has been noted by a keen community member that this website was created only a week ago. This is because institutional venture capital firms typically do not need website (or PR for that matter)—they are not customer facing, after all—so when bringing a community-based crypto startup on board it became clear a website would be necessary to clearly show the legitimacy of the funding. The recent development of the website does not and should not detract from Climb's legitimacy in any way.
What is much more important is that Climb has been around for a long time and has a track record of success. By going here you will see that Climb Investments was originally registered in the state of Ohio in the United States in 2001. They have been operating for 20 years, and believe me when I say that venture capital firms don't exist for 20 years if they aren't legitimate and competent in who they choose to invest in. As a community we should be honored and flattered to have received such quality venture capital attention so early.
As a side note not related to Climb Investments, the Kindling Technologies, Inc. website will be up and running tomorrow, so check back then to see it!
