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Mohamed Mohamoud

Author and the owner of idman news

August 15, 2022

Idman news

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Huobi Launched Latest $100M Fund To Invest In DeFi Projects – Crypto News

Huobi launched the latest $100 million funds to invest in Defi projects and it is one of the biggest blockchain companies to announce such a thing as we can see more in our latest cryptocurrency news.

Huobi Group is one of the largest blockchain companies in the world that announced this week that it would launch Huobi Ventures as a new subsidiary that will focus on Huobi’s investment portfolio in the blockchain space. With a $100 million portfolio, the Chinese subsidiary group will invest in early-stage blockchain and decentralized finance projects in three years’ time. The initiative will be led by Huobi Group’s CFO Lily Chang with Huobi Ventures consolidating the past investment funds Huobi Capital, Huobi Eco Fund, and Huobi Defi labs into one investment portfolio. Zhang said:

“While we’ve made significant progress in our investments already, the formation of Huobi Ventures is a more concerted effort to accelerate our growth at a pivotal point for Huobi. 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.”

With the investments across many projects in the blockchain space, Huobi incested over $69 million up to this date with its portfolio balance reaching $215 million. Some of the investments include Terra, Oasis Network, Ampleforth, and Optimism among others. Terra specializes in combining the price stability of fiat currencies with BTC for efficient transactions that saw its governance token reaching an impressive $6 billion in market cap. On top of the flagship fund, focusing on venture capital and mergers and acquisitions, Huobi Ventures will create a $10 million NFT fund. Despite the recent slowdown in the space, many investors remained keen on tapping into the major marketplaces like Rarible and OpenSea. Despite its focus on NFT projects, the fund is open to investing in collectibles as well. Huobi launched the latest $100M fund and we can see further:

“NFTs are the future of art and collectibles, but they’re also giving creators like musicians and artists a new way to engage with fans and introducing blockchain to the mainstream audience. While NFTs have already become a growing part of the internet culture, what we’ll 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 an increased usage across gaming, media, enterprise, and more in the near future.”

nft data shows, sales, drop, price, value

Source: Huobi Launched Latest $100M Fund To Invest In DeFi Projects

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