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The Bitcoin Foundation has announced the appointment of Cape Town-based venture capitalist Llew Claasen as its executive director.

Claasen, alongside Vinny Lingham, runs VC firm Newtown Partners, which has invested in a number of South African companies, including SweepSouth and eShip.

He was elected to the position of executive director of the Bitcoin Foundation, which is focued on increasing the adoption of bitcoin and fostering more development, by a board of directors vote on June 14.

“I’m looking forward to leading the Bitcoin Foundation going forward. There is an amazing opportunity for the organisation to help the bitcoin ecosystem. In the coming weeks I’ll be working closely with the board, membership, transition team and various stakeholders to create the best plan for success possible,” Claasen said.

Outgoing executive director Bruce Fenton said Claasen’s skill set was exactly what the organisation needed now.

“The foundation is in a great position and in great hands. I look forward to supporting Llew however I can in this exciting new chapter,” he said.

Lingham, who is also a board member of the foundation, said he had known Claasen for many years and have worked with him in several capacities.

“I think he will be a perfect fit for the organisation as we build on the significant progress we have made,” he said.

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