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1w ago Venture Capital cyberscoop Views: 28

The U.S. sanctioned an Iranian venture capital firm on Wednesday that the Treasury Department said invests in cyberspace and information technology. Treasury’s Office of Foreign Assets Control identified the firm, Barkat Ventures, as an arm of an organization that the supreme leader of Iran controls called EIKO, short for Execution of Imam Khomeini’s Order. The sanctions also targeted a second Komeini-controlled organization, Astan Quds Razavi. “These institutions enable Iran’s elite to sustain a corrupt system of ownership over large parts of Iran’s economy,” said Secretary Steven Mnuchin. “The United States will continue to target those who enrich themselves while claiming to help the Iranian people.” Barkat Ventures has a small profile outside Iran. An apparent company website cites its desire to invest in technologies such as the internet of things, electronic health, cryptocurrency and software as a service. Its overall goal is to reduce barriers for entrepreneurs in “knowledge-based” businesses, […] -

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