PR: Devereux Fund invests in blockchain company FarmaTrust to remove fake pharmaceuticals from the supply chain

FarmaTrust has announced that Devereux Fund, a Cayman’s based, alternative investment fund has participated in the project. The fund which specializes in high quality innovative projects has agreed to back FarmaTrust over the longer term. The Devereux contribution is particularly significant as their participation took up all remaining tokens available in the TDE.

“This was a protracted negotiation which has resulted in FarmaTrust selling out all of its tokens which were made available during the TDE. It is also a great endorsement that shows the level of support and faith institutions have in pharmaceutical supply chain projects based on blockchain. We are extremely fortunate to have institutions which take a long term view on FarmaTrust, as well as a strong and loyal community”. said Raja Sharif, CEO of FarmaTrust.

Sharif further adds “Although the details of the Devereux’s participation remain confidential, that the fund has agreed to various lock up periods of 6 and 12 months, clearly shows that, along with our other institutional investors, there is belief in the long term viability of the project”.

About Devereux Fund

Devereux Fund is a Cayman’s based fund specializing in innovative and special situations opportunities for its members who look for high growth returns. It seeks to connect traditional high net worth investors to cutting edge, frontier projects which have significant prospects of high returns, particularly in innovative areas such as blockchain, AI and other tech sectors.

About FarmaTrust

FarmaTrust is the most efficient global pharmaceutical tracking system, ensuring that counterfeit drugs do not enter the supply chain and providing security to pharmaceutical companies, governments, regulators and the public. FarmaTrust’s blockchain based system utilises Artificial Intelligence, Machine Learning, and big data analysis to deliver value added services, efficiency, and a transparent supply chain. The FarmaTrust system is safe, secure, encrypted, immutable and future proof. FarmaTrust is based in London, United Kingdom.

What is Blockchain?

A digital ledger in which transactions are recorded chronologically and publicly. This open, distributed ledger records transactions between two parties efficiently and, in a verifiable and permanent way, facilitating the creation of new and “trusted” networks.