The latest $50 million fund from state-backed capital provider Ben Franklin Technology Partners of Southeastern Pennsylvania is a sign of the times.

Through the newly launched Global Opportunity Philadelphia Fund (GO Philly Fund), the organization wants to tap into the hundreds of billions of dollars in the cryptocurrency market in order to fuel early-stage Philly startups. But first, some hard cash: The fund had an initial close of $15 million, with Newtown-based EPAM Systems as lead investor, a $5 million investment from Ben Franklin and investment commitment from investors like Provco Group, Fulton Bank and SRI Capital.

“The newly formed GO Philly Fund is well-positioned to attract investors and contribute to the growth of our region,” explained RoseAnn B. Rosenthal, Ben Franklin’s president and CEO. “Last year, we reviewed nearly 1,000 promising young companies before ultimately selecting to invest in 50 of them. This fund allows us to expand our regional impact by inviting a new group of investors to share in the opportunities our region offers.”

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