Huobi Group, the parent company of Huobi Global crypto exchange, has recently launched a new $100 million venture capital fund for Defi and NFT projects. The firm wants to focus its blockchain investments under the single banner of Huobi Ventures.
Huobi Ventures to Focus on Blockchain and Defi Startups
Huobi Group is the parent company of the crypto exchange Huobi based in Seychelles. It has recently introduced a new $100 million venture capital fund that will be targeting investing in early-stage blockchain and Defi startups.
As per the announcement made, the new subsidiary of the firm which is led by the CFO of the Huobi Group, Lily Zhang, will be focussed at:
“Growing Huobi’s venture investment portfolio and supporting innovative blockchain projects through long-term investment strategies.”
In addition to this, Zhang continued to explain their investment strategies and said:
“We have had separate teams focus on different investment strategies, but by bringing everyone together under a single entity, we can create a more cohesive strategy and continue to invest in and support the most innovative projects that are shaping the blockchain and Defi spaces.”
Huobi Ventures, as revealed in the announcement, will be focussing on corporate mergers and acquisitions as well as venture capital. While the M&A division plans to search for strategic opportunities related to blockchain.
The $10 Million NFT-Dedicated Fund of the Firm
Apart from the Defi projects, the firm is also going to establish a $10 million fund that would be specifically dedicated to the NFTs. Talking about the potential of these distinct and non-interchangeable tokens, Zhang said:
“These are the future of art and collectibles and give creators a new way to engage with fans and introduce blockchain to the mainstream audience.”
Adding further to the statement, Zhang revealed:
“While NFTs have already become a growing part of the internet culture, what we see in the market today is only a fraction of what’s actually possible with NFTs. As an immutable way to prove authenticity and ownership of digital files, we’ll see use cases increase across gaming, media, enterprise, and more in the near future.”