Topic: [2018-06-04] At Least Three New Investment Funds Aim to Bolster the Crypto Space (Read 132 times)

Within only a few days of each other, three crypto industry giants Binance, Huobi and Block.one all announced their launch of separate investment funds for blockchain-based systems. The move could mean a lifeline for struggling startups with groundbreaking ideas - if they can get the investors’ approval.

Binance, the biggest cryptocurrency exchange (with fees) by 24 hour trading volume as of the time of writing, has announced their intention to set up a "one-billion-dollar" Community Influence Fund and another Binance Ecosystem Fund with 20 future partners. Binance will provide financial support as an limited partner, as well as share incubation projects from Binance Labs, their blockchain incubator.

Members of the ecosystem will be given priority when recommending projects, and all investments will be made in Binance Coin (BNB). Applicants will, among other things, need to prove that they have USD 100 million assets under management (AUM) when applying.

Only a day after this announcement, Huobi - currently the third largest exchange (with fees) by 24 hour trading volume and Binance’s rival - came forward with news of a partnership with Chinese investment firm NewMargin Capital and South Korean securities firm Kiwoom Securities in launching an investment fund of USD 93 million. The fund will invest in blockchain companies in those two countries, bolstering collaboration between them.

Block.one, developer of the blockchain-based platform EOS, announced their partnership with SVK Crypto in launching a USD 50 million investment fund as well, that will invest in projects that are building on the EOS blockchain platform, focusing on decentralized applications (Dapps). This includes established or early-stage companies that have started exploring EOS or are building software on the platform.

To secure funds from such investors, applicants should look out for rules that are going to be published soon.

https://cryptonews.com/news/at-least-three-new-investment-funds-aim-to-bolster-the-crypt-1928.htm