Overstock’s venture capital arm Medici Ventures has made a $2 million investment into Salt Lake City-based Evernym, a startup that develops blockchain-based self-sovereign identity networks.
Per a Sept. 26 press release, Medici invested $2 million into Evernym through participation in the company’s Simple Agreement for Future Equity (SAFE), closed on September 4, 2019. This allows Medici to convert its share in the SAFE to preferred stock in Evernym’s future priced round of equity financing.