Infinity Ventures Crypto Raises $70-Million Fund to Empower Companies With Focus on Web3, DeFi

Circle, Digital Currency Group, and Animoca Brands participated in the fund.

Infinity Ventures Crypto Raises $70-Million Fund to Empower Companies With Focus on Web3, DeFi

Photo Credit: Unsplash/ Shubham Dhage

Infinity Ventures Crypto is a Taipei-based Web3 investor

  • The debut fund includes prominent backers like Animoca Brands
  • According to an IVC partner, the fund is already oversubscribed
  • IVC aims to bridge the gap between the west and the east

Taipei-based Web3 investor Infinity Ventures Crypto (IVC) has raised $70 million (roughly Rs. 525 crore) to deploy startups in Asian, South American, and North American markets in its first fund deal. The focus of the fund is to jumpstart and accelerate the growth of global GameFi, decentralised finance (DeFi), and Web3 innovations with a key focus on bridging the gap between the markets in East, particularly Southeast Asia, and the West. Notable fundraiser participants include Circle, Digital Currency Group (DCG), and Animoca Brands.

As per a press release announcing the end of the funding round, IVC was founded in August 2021 and has injected capital and expertise into 78 portfolio companies thus far. With 13 years of experience in traditional venture capital under the sister fund Headline Asia, IVC aims to leverage its global network to empower blockchain startups across the globe, including those in Southeast Asia, Taiwan, Japan, US, and others. "As venture-building partners, IVC is committed to supporting its founders fully, from tokenomics design to cryptocurrency exchange listings," states the release.

“As a bridge between the East and West, we take a boots-on-the-ground approach by assembling teams of local experts to stoke the growth of our portfolio companies,” said IVC partner Brian Lu. “We're proud to be off to a fast start and are excited to share our expertise with more innovators.”

IVC's first investment was Yield Guild Games (YGG), a Philippines-headquartered play-to-earn gaming guild and decentralised autonomous organisation (DAO) that invests in non-fungible tokens (NFTs). “Aligning with IVC's vision to help the unbanked and the underbanked, these games provide an additional income stream to players during the pandemic,” said Lu.

IVC partners also include Akio Tanaka, founder of Headline Asia, Herbie Fu, former partner at 8 Decimal Capital, JT Law, co-founder of VerifyInvestor, Alex Yeh, co-founder of AuraBlock Ventures, and Richie Chaval Jiaravanon, former CEO of Snapask Thailand.

Speaking to CoinDesk, Lu provided more insight on the fund, stating that it is currently "oversubscribed" and is already 30 percent deployed, with 80 deals complete. He goes on to mention that he doesn't want the fund to grow any further at this point of time since Web3 companies look for smaller rounds of funding. "They might be raising only $1 million (roughly Rs. 7.5 crore) or less," Lu said, with average check sizes in the range of $250,000 (roughly Rs. 2 crore).

Are Oppo's new flagship phones any good? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Affiliate links may be automatically generated - see our ethics statement for details.

For details of the latest launches and news from Samsung, Xiaomi, Realme, OnePlus, Oppo and other companies at the Mobile World Congress in Barcelona, visit our MWC 2024 hub.

Further reading: Cryptocurrency, Web3, DeFi, DAO, IVC, GameFi
Realme C35 Pops Up in Live Images Ahead of February 10 Launch Featuring AI Triple Cameras
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News


Follow Us


© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »