Draper Goren Holm, Tim Draper’s Los Angeles-based venture studio, has announced their equity investment into CasperLabs. CasperLabs is building an open-source blockchain platform powered by the Correct-by-Construction (CBC) Casper Proof-of-Stake consensus protocol.

Built to scale opportunity for everyone in the blockchain ecosystem, CasperLabs is said to be designed for real-world applications without sacrificing usability, decentralization, security or scalability. On March 31st, the team debuted its incentivized Testnet, fully subscribed with 20+ participating validators including HashQuark, Staked.Fish, SNZ Pool, and more.

Between Draper Goren Holm and the Draper Venture Network, CasperLabs will gain access to additional capital investments plus corporate partnerships through the venture studio and the other portfolio companies in the venture network.

Mrinal Manohar, CEO of CasperLabs, quipped: “We are humbled and excited about the support from legacy venture studio Draper Goren Holm. We look forward to delivering several more interesting technical updates in the coming months and welcome any and all feedback.”

Josef Holm, Founding Partner at Draper Goren Holm, added: “CasperLabs is building the next generation of smart contract platforms, and we are excited to invest in their strong team and vision.”